XRP and Hyperliquid’s HYPE have emerged as notable bright spots amid record outflows from US spot cryptocurrency exchange-traded funds (ETFs).
XRP-linked ETFs added $59.4 million in June, a third consecutive month of net inflows, although at a slower pace than during the previous two months, according to data from SoSoValue. HYPE funds recorded $161 million in net inflows during the month.
On the contrary, bitcoin ETFs suffered record outflows of over $4 billion, with ether ETFs (ETH) seeing outflows of $528.99 million and solana ETFs (SOL) losing $786,000.
Positive flows into XRP and HYPE funds indicate potential for significant spot price appreciation, particularly if bitcoin and the broader market stabilize.
HYPE also has support at the fundamental level. Its parent, decentralized exchange Hyperliquid, generated just over $80 million in fees in the last 30 days, according to DefiLlama. This puts it third among all protocols and only behind stablecoin giants Tether ($486.9 million) and Circle Internet ($184.07 million).
Speaking of potential for market stability, July offers hope. According to Alex Kuptsikevich, chief market analyst at FxPro, July tends to be a positive month for the largest cryptocurrency.
