XRP Eyes $0.51 Support, Dormant SHIB Whale Moves $2.5M, Singapore Flags Hyperliquid — Morning Crypto Digest

The crypto market continues navigating turbulent waters as fresh on-chain data paints a detailed picture of where XRP may land, a long-dormant Shiba Inu holder resurfaces with a multimillion-dollar transfer, Singapore regulators take aim at Hyperliquid, and Bitcoin struggles to hold the $58,000 line as the second quarter draws to a close.

**XRP's On-Chain Map Points to $0.51 as Key Battleground**

Analyst Ali Martinez has published new Glassnode data using the UTXO Realized Price Distribution (URPD) metric, effectively charting where significant XRP buyer activity is concentrated. The analysis reveals a clear downside roadmap should current support levels fail to hold.

The immediate focus is on the $1.06 price zone, which has seen over 830 million XRP change hands historically. This makes it a critical threshold — a sustained close below it could signal the beginning of a more prolonged correction phase.

Should bearish pressure overcome this level, on-chain data identifies three major accumulation zones where billion-scale volumes have previously clustered:

— **$0.80**: The first meaningful support on the way down, with around 923 million XRP historically traded at this level.
— **$0.62**: The most liquidity-dense zone, recording approximately 1.16 billion XRP in past transactions — the heaviest concentration in the entire range.
— **$0.51**: Considered the deepest and most structurally significant target. Roughly 1.06 billion XRP have a cost basis here, making it a reference point for large-scale investors and smart money.

The on-chain picture suggests that major market participants have already staked real capital at these price points. Whether XRP reverses from current levels or descends toward these long-term accumulation zones will largely depend on how much liquidity remains at the $1.06 psychological barrier.

**Dormant 2024 SHIB Whale Resurfaces With $2.5 Million Move**

Separately, on-chain tracking platform Arkham detected a major Shiba Inu wallet that had been inactive since 2024 suddenly springing back to life. The wallet transferred 600 billion SHIB tokens, valued at approximately $2.51 million at the time of the transaction.

The transfer followed a multi-hop routing pattern. The originating address — labeled "0x34596…" — moved 486.98 billion SHIB tokens through an intermediary to a consolidation hub at "0x3Ece6…", where the funds were merged with other incoming flows before being directed to the final destination address "0x9999f…". Upon arrival, the receiving wallet accumulated a combined balance exceeding $3.24 million in SHIB and stablecoins.

The routing structure bears hallmarks of OTC-linked smart contract activity rather than typical retail behavior. Over the past month, more than $20 million in SHIB has reportedly moved through similar channels — a notable trend against the backdrop of SHIB's roughly 23% price decline during the same period.

**Singapore Puts Hyperliquid on Investor Alert List**

The Monetary Authority of Singapore (MAS) has added decentralized exchange Hyperliquid to its investor alert list, signaling regulatory concern. The project's team responded by stating that no rules had been violated and that the listing does not constitute a formal enforcement action.

The move has reignited debate within the crypto community about the project's decentralization claims. Multicoin Capital's Kyle Samani publicly accused the Hyperliquid team of misrepresenting the degree to which the platform operates in a truly decentralized manner. On the other side, Bitwise CEO Hunter Horsley voiced support for the project's underlying fundamentals, suggesting the regulatory attention may not reflect the platform's actual compliance posture.

**Bitcoin at $58,000 as Q2 Pressure Peaks**

Bitcoin is holding near the $58,000 level as the second quarter of 2025 approaches its conclusion under considerable market stress. The broader market has seen approximately $900 million in liquidations, and Bitcoin spot ETFs have registered seven consecutive weeks of net outflows totaling roughly $1.34 billion.

Adding to bearish sentiment, the Federal Reserve's hawkish tone has effectively eliminated expectations for a Q3 rate cut, removing a key potential catalyst for a near-term rally. Traders are closely watching whether Bitcoin can maintain this level as a foundation heading into Q3 or whether continued macro headwinds will push prices lower.