XRP News Today: Will BlackRock Join the XRP ETF Race?

XRP Rebounds – Spot ETF Countdown Begins

XRP rebounded toward key resistance levels as speculation intensified about the imminent launch of XRP-spot ETFs.

NovaDius Wealth Management President Nate Geraci shared a report on a potential final wave of ETF amendment filings by the end of the week. The filings, including amendments to XRP-spot ETF applications, would suggest continued dialogue with the SEC and the potential approval of the pending spot ETFs. He stated:

“Final wave of amendments could be filed by the end of this week on various spot crypto ETFs incl XRP & SOL… ‘Those filings are pretty far along in the review process.’ Countdown to launch is on.”

21Shares, Bitwise, Canary Capital, CoinShares, Franklin Templeton, Grayscale, and WisdomTree have filed for XRP-spot ETFs, awaiting approval. While the final decision deadlines range from October 18 to November 14, it is plausible that the SEC approves the entire batch on October 18 to avoid giving any issuer a first-launch advantage.

Why Traders Are Focused on Spot ETFs

Nate Geraci underscored the significance of the crypto ETF market, stating:

“Spot crypto ETFs continue to lead ‘all’ ETF categories in inflows since April 8th S&P 500 low. Nearly $35bil.”

Crypto trader DREGEN commented on the surge in demand for crypto-spot ETFs, stating:

“When you see spot crypto leading every possible category by such a huge margin, it tells you everything you need to know. This is a massive wave of new money pouring into the space. And with a whole new batch of ETFs coming next month? It’s really hard not to be incredibly bullish right now. The demand is real.”

For perspective, precious metal ETFs, including gold, have reported net inflows of $22.4 billion since April 8th.

XRP could hit fresh highs if XRP-spot ETFs experience similar demand to BTC-spot and ETH-spot ETFs. Bitcoin (BTC) struck an all-time high of $123,731 (August 14), while Ethereum (ETH) hit a record high of $4,958 (August 24) on surging demand for spot ETFs.

BlackRock’s Potential Role

XRP’s rebound came despite one key ETF issuer remaining silent on its plans for an XRP-spot ETF filing. The launch of a BlackRock (BLK) iShares XRP Trust could be pivotal to the success of an XRP-spot ETF market.

BlackRock’s iShares Bitcoin Trust (IBIT) and iShares Ethereum Trust (ETHA) dominate the crypto market, with net inflows of $60.7 billion and $13.4 billion, respectively. For context, Fidelity’s BTC-spot and ETH-spot ETFs rank #2, with net inflows of $12.4 billion and $2.8 billion, respectively.

Will BlackRock file for an XRP-spot ETF?

In August, Nate Geraci speculated about a potential application for an XRP-spot ETF, stating:

“So, yeah, BlackRock is just waiting for indication of SEC approval of generic listing standards for crypto ETFs before filing for spot XRP & SOL ETFs.”

The SEC approved the Generic Listing Standards for commodity-based trust shares on September 18. The approval removes the need for an ETF issuer to file 19-b forms and pass the SEC’s review process if the ETF meet the Generic Listing Standards. BlackRock has yet to file, but SEC rule changes mean it can file without delay.

Price Action & Technical Analysis: Break $3 or Breach $2.8

XRP rallied 3.57% on Wednesday, September 24, reversing the previous session’s 0.4% fall, closing at $2.9273. The token crucially snapped a six-day losing streak and outperformed the broader market (0.83%) on its climb toward key resistance levels. Traders are watching the following technical levels:

• Support: $2.8 and $2.5.
• Resistance: $3, $3.2, $3.335, and the all-time high at $3.66.

In the near term, several key events could drive price action:

• XRP ETF demand.
• Spot ETFs: Approval or delays of XRP-spot ETFs and BlackRock’s position on an iShares XRP Trust filing.
• Blue-chip companies’ stances on XRP as a treasury reserve asset.
• Regulatory milestones: Ripple’s US-chartered bank license application, the Market Structure Bill, and SWIFT-related news may also influence sentiment.

Catalysts & Scenarios

The balance of flow trends, regulatory headlines, and institutional demand could determine whether XRP tests lower support levels or breaks above resistance.

Bearish Scenario

• GDLC, BITW, and XRPR ETFs report weak inflows or outflows, and BlackRock dismisses plans for an iShares XRP Trust filing.
• SEC declines XRP-spot ETF applications.
• Legislative setbacks or pushback on crypto-friendly regulations.
• Blue-chip companies avoid XRP as a treasury reserve asset.
• OCC delays or rejects Ripple’s US-chartered bank license.
• SWIFT retains market share in global remittances, limiting Ripple’s market access.

These bearish events could drag XRP toward $2.8. If breached, $2.5 would be the next key support level.

Bullish Scenario

• BITW, GDLC, and XRPR report robust inflows.
• BlackRock applies for an iShares XRP Trust, and the SEC green-lights XRP-spot ETFs.
• Blue-chip companies adopt XRP as a treasury reserve asset, and more payment platforms integrate Ripple technology.
• Ripple secures a US-chartered bank license, and the Senate passes the Market Structure Bill.
• SWIFT loses market share of global remittances to Ripple.

These catalysts could send XRP toward $3. A move through $3 may pave the way toward $3.2. A sustained move through $3.2 opens the door to testing $3.335.

Conclusion: Can an XRP-spot ETF Launch Trigger the Next XRP Rally?

Potential delays to the Market Structure Bill’s Senate floor vote have turned investor focus to the XRP-spot ETF applications.

The launch of XRP-spot ETFs could fuel institutional demand, potentially sending the token to new highs. An application for an iShares XRP Trust could add fuel to the fire. Meanwhile, a continued delay in spot ETF approvals and regulatory roadblocks may cap the upside.

Analysts will closely monitor how regulatory and economic risks affect XRP’s trajectory in the coming weeks.