The US XRP-spot ETF market would significantly benefit from an iShares XRP Trust launch, given the iShares Bitcoin Trust’s (IBIT) dominance in the BTC-spot ETF market.
Progress toward crypto-friendly legislation and XRP-spot ETF inflows contributed to the recovery from sub-$1.80 levels.
Strong demand for XRP-spot ETFs, regulator-related developments, and a potential iShares XRP Trust launch support a bullish price outlook for XRP.
Below, I will explore the key drivers behind recent price trends, the medium-term (4-8 weeks) outlook, and the key technical levels traders should watch.
BlackRock’s absence from the US XRP-spot ETF market raised concerns about a lack of institutional demand. However, US XRP-spot ETF issuers have reported total net inflows of $1.14 billion since their launch, indicating robust institutional demand.
Notably, there’s no single dominant ETF issuer in the US XRP-spot ETF market, opening the door for BlackRock to launch an iShares XRP Trust.
Crypto commentator Chad Steingraber, with almost 70,000 followers on X (formerly Twitter), fueled speculation about BlackRock launching an XRP-spot ETF, stating:
