Foreign media reports that a crypto market commentary article states that XRP, Zcash (ZEC), and Hyperliquid's token HYPE are all at critical junctures, but they face different challenges. XRP remains under selling pressure, ZEC is attempting to stabilize after a two-week correction, and HYPE continues to weaken after large investors moved into exchanges.
XRP remains under pressure between $1.09 and $1.10.
The article states that XRP's latest price is around $1.08, still below its 50-day and 100-day moving averages. These two moving averages are currently clustered around $1.10, suppressing any rebound throughout July. The previously formed symmetrical triangle pattern also failed to break upwards, with the price instead falling below the rising support level, indicating that selling pressure remains active above.
Based on the signals provided in the text, XRP still lacks sufficient trading volume in the short term. Recent rebounds have not seen a significant increase in buying pressure, indicating limited buying support. The Relative Strength Index (RSI) is around 46, which, although showing some improvement from the previous decline, has not yet returned above the neutral line.
- Key resistance zone: $1.09 to $1.10
- Key support level below: $1.05
- Longer-term resistance: 200-day moving average, approximately $1.21
The article argues that if the price can regain a foothold near $1.10 with stronger trading volume, the market may test the $1.21 level further. If it falls below $1.05, the $1 psychological level may once again become a point of focus.
ZEC attempted to hold near $474 after a pullback.
ZEC experienced a pullback after rising to $570 earlier this month, and is currently trading around $476. The article states that ZEC briefly dipped below its 50-day moving average but quickly recovered, with the 100-day moving average providing support around $474. As long as this area remains largely intact, the medium-term recovery structure is not yet fully broken.
Unlike the previous sharp decline, this round of pullback is more like a consolidation after profit-taking. Although prices continue to make lower highs, the decline has clearly slowed near the cluster of moving averages. The RSI has also rebounded to around 46, indicating that the bearish momentum has weakened compared to before.
$500 remains a key level to watch in the short term.
The article identifies $495, near the 50-day moving average, as the next resistance level. If the price effectively breaks above this level, the psychological level of $500 will re-enter the market's view; if it further recovers to $520, the market may consider this correction to be nearing its end.
On the other hand, if the 100-day moving average is breached, the expected recovery of ZEC will be significantly weakened, and the area around $412, where the 200-day moving average is located, may become a new downside reference.
HYPE fell by about 25% in one month.
The article states that Hyperliquid's native token, HYPE, has been undergoing a correction for the past month, with its latest price at approximately $53.2, a drop of about 25% from its previous high. As the price has fallen below the 50-day and 100-day moving averages, which have now turned from support to resistance, short-term recovery will be more difficult.
The market's current focus is on the $50 level. The article points out that as the 200-day moving average gradually moves up to this area, HYPE is approaching a more significant long-term support zone. If this area holds, this decline could still be seen as a temporary pullback within an uptrend, rather than a trend reversal.
- The latest price is approximately $53.20.
- The 50-day moving average is approximately $57.2.
- The 100-day moving average is approximately $60.3.
Large investors transferring funds to exchanges raises concerns about selling pressure.
The article mentions that large holders such as Bitwise and Mult token issuer in Capital transferred tokens to exchanges earlier this week, exacerbating market concerns about continued selling pressure. Meanwhile, HYPE's trading activity has significantly decreased compared to May and June, indicating that new buying interest is still on the sidelines.
However, the article does not interpret this decline as a deterioration in the project's fundamentals. Its assessment is that the current pullback is more likely a result of profit-taking and weakening market sentiment. Hyperliquid remains one of the largest protocols in the decentralized perpetual contract trading space, and its token trading activity is still higher than most DeFi assets.
