XRP Tests Key Levels as BlackRock ETF Speculation Emerges

XRP is trading close to $1.51 after declining around 5% over the past seven days, as market speculation about a possible BlackRock spot XRP ETF resurfaces. With the token testing an important support area, the focus is on whether existing XRP funds are attracting sufficient demand to support the entry of another large issuer.

The key short-term levels are $1.45 below and $1.55-$1.56 above. XRP’s reaction around these thresholds could determine the next phase of its price action. The token is still approximately 59% below its $3.65 record high from July 2025.

Seven U.S. spot XRP ETFs have accumulated roughly $1.77 billion in assets, with holdings of about 1.18 billion XRP, or approximately 1.9% of the circulating supply. After accounting for withdrawals, the funds had received about $1.79 billion in investments, while contributions increased by nearly $76 million over the previous week.

The current size of the XRP ETF market may also be relevant to any potential BlackRock launch. A 0.25% annual fee applied to $1.77 billion in assets would amount to approximately $4.4 million in annual fees across the seven funds before those revenues are divided among the issuers. Although a new fund could attempt to attract investors with a lower fee, that strategy would further limit the revenue generated from a market that remains relatively small compared with BlackRock’s overall ETF business.

Robbie Mitchnick, BlackRock’s head of digital assets, has listed client demand, market value, liquidity, market maturity and portfolio fit among the factors considered when evaluating crypto ETF products. Client demand has been highlighted as the primary factor. A registration filing, if submitted, would begin the formal process but would not mean that BlackRock would immediately buy XRP. Spot funds generally purchase the underlying asset as investors contribute capital.

The available historical price data places XRP near $1.49-$1.50. CoinGecko recorded UTC closing prices of $1.49 on September 29 and $1.50 on September 28. These figures are historical reference points rather than live quotations. They indicate that XRP is testing the support zone outlined in the report, but they do not establish that the level has failed.

At present, $1.50 acts as the central pivot, while $1.45 represents a lower support threshold. A sustained move through $1.55-$1.56 would provide stronger evidence of renewed demand than a short-lived rebound near $1.50.

The supplied information does not contain moving-average or on-chain indicators, limiting the technical assessment to the identified price levels.

The decline from $1.57 on September 25 to $1.49 at the September 29 UTC close shows that XRP reached the support area following a notable pullback rather than a slow, sideways move. However, that price action alone cannot determine whether buyers will defend the level.

As a result, the token’s response around $1.50, $1.45 and $1.55-$1.56 provides more tangible information than the current BlackRock rumors.

Canary Capital CEO Steven McClurg speculated in January 2026 that BlackRock could file for an XRP ETF sometime in late 2026 or early 2027. BlackRock has not confirmed that schedule, and the primary report says there is no confirmed filing or launch. The potential ETF therefore remains speculation rather than a formally announced development.

BlackRock’s existing connection with Ripple does not change that. The asset manager accepts Ripple’s RLUSD stablecoin as collateral for BUIDL, its tokenized Treasury fund. RLUSD is distinct from XRP, and accepting the stablecoin as collateral does not provide evidence that BlackRock intends to launch a spot XRP ETF.

For now, XRP’s market structure is more clearly defined by its $1.45-$1.56 range than by the BlackRock speculation. Existing ETF demand provides measurable evidence of investor interest, but the current asset base and estimated fee revenue do not confirm that BlackRock will enter the market. A formal filing or a decisive move outside the current price range would provide more concrete evidence of a change in the setup.