XRP–XLM Relative-Jump Exhaustion Across Hyperliquid and OKX

Hypothesis

Test whether a large relative repricing between payment-network tokens partially unwinds after its first observable reversal. Trade synchronized 4-HOUR XRPUSD.HYPERLIQUID and XLMUSDT.OKX bars, shorting the relative winner and buying the laggard. This is cross-asset relative value, not guaranteed arbitrage. Market orders execute at the signal bar close, the supported equivalent to next-bar-open execution on continuous venues. Individual protective stops trigger intrabar through platform matching. Include actual funding and execution costs on both legs. All capture and firing-rate estimates are unmeasured research predictions.