XRP is trading near $1.51 after dropping roughly 5% over the past week, as renewed speculation circulates around a potential BlackRock spot XRP ETF. The token is approaching an important support area, putting the focus on whether existing XRP funds are generating enough demand to encourage another major issuer to enter the market.
The immediate levels to watch are $1.45 on the downside and $1.55-$1.56 on the upside. XRP’s next move will depend on whether the token can hold support or reclaim the upper resistance zone. At current levels, XRP remains about 59% below its $3.65 all-time high from July 2025.
Seven U.S. spot XRP ETFs already hold roughly $1.77 billion in combined assets, including about 1.18 billion XRP. That represents approximately 1.9% of XRP’s circulating supply. After withdrawals, the products had attracted around $1.79 billion in total investment, while contributions increased by about $76 million during the previous week.
The market’s current size could also be relevant to BlackRock’s potential entry. At an assumed annual fee of 0.25%, the combined $1.77 billion asset base would generate about $4.4 million in annual fees across the seven existing issuers before the revenue is divided. A new fund could use a lower fee to compete for assets, but that would make the available revenue pool even smaller compared with the scale of BlackRock’s broader ETF business.
BlackRock’s head of digital assets, Robbie Mitchnick, has previously identified client demand, market value, liquidity, maturity and portfolio fit as factors considered when evaluating crypto ETFs. Client demand is the leading consideration. Even if BlackRock submitted a registration statement, the filing itself would not mean immediate XRP purchases. Spot ETFs acquire the underlying asset as capital flows into the funds.
Historical price data places XRP around the $1.49-$1.50 area. CoinGecko recorded UTC closes of $1.49 on September 29 and $1.50 on September 28. These figures are historical reference points rather than live prices. The data indicates that XRP is testing the reported support zone, but it does not confirm a breakdown.
Within the current short-term framework, $1.50 serves as the main pivot, while $1.45 represents the deeper downside level. A sustained move through $1.55-$1.56 would provide more meaningful evidence of renewed buying than a temporary bounce around $1.50.
The available data does not provide moving-average or on-chain readings, limiting the scope for additional technical conclusions.
XRP fell from $1.57 on September 25 to $1.49 at the September 29 UTC close, showing that the current support test followed a relatively sharp pullback. However, the decline alone does not indicate whether buyers will successfully defend the area.
That makes XRP’s actual reaction around the key price levels more concrete than the renewed BlackRock speculation.
Canary Capital CEO Steven McClurg speculated in January 2026 that BlackRock could file for an XRP ETF by late 2026 or early 2027. BlackRock has not confirmed that schedule, and the primary report states that there is no confirmed application or launch. The potential fund therefore remains an unconfirmed possibility.
BlackRock’s relationship with Ripple also does not establish that an XRP ETF is coming. The asset manager accepts Ripple’s RLUSD stablecoin as collateral for BUIDL, its tokenized Treasury fund. RLUSD is separate from XRP, and the collateral arrangement is not evidence of plans for a spot XRP ETF.
Until a formal filing or other confirmation emerges, XRP’s near-term setup remains centered on the $1.45-$1.56 range. Existing ETF demand provides measurable data, but its current size and estimated fee revenue do not demonstrate that BlackRock will enter the market. A decisive break of the range or an official ETF filing would provide more concrete evidence of the next development.
