XRP and Hyperliquid’s HYPE have emerged as notable bright spots amid record outflows from U.S. spot crypto exchange-traded funds (ETFs).
XRP-linked ETFs added $59.4 million in June, a third straight month of net inflows, albeit at a slower pace than during the previous two months, according to SoSoValue data. HYPE funds notched up $161 million in net inflows during the month.
In contrast, bitcoin ETFs suffered record outflows of more than $4 billion, ether (ETH) ETFs saw $528.99 million in outflows and solana (SOL) ETFs shed $786,000.
The positive flows into both XRP and HYPE funds signal potential for significant spot price appreciation, particularly if bitcoin and the broader market stabilize.
HYPE also has support at the fundamentals level. Its parent, the decentralized exchange Hyperliquid, generated just over $80 million in fees over the past 30 days, according to DefiLlama. This places it third among all protocols and behind only 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, the chief market analyst at the FxPro, July tends to be a positive month for the largest cryptocurrency.