XRP is currently trading around $2.92, down just over 1% in the past 24 hours. While the decline appears modest, the move reflects deeper market dynamics, including whale activity, regulatory delays, and renewed speculation around potential exchange-traded funds (ETFs).
This raises a key question: what would happen if BlackRock, the world’s largest asset manager, were to file for an XRP ETF?
Why XRP Pulled Back Today?
The latest price dip can be traced largely to whale movements. Between August 18–20, wallets holding between 10 million and 100 million XRP offloaded roughly 470 million tokens, valued at about $1.35 billion. This marked the largest wave of selling since July, when 660 million XRP were liquidated, driving prices 10% lower.
The sell-off sparked liquidations across the market, with over $31 million in long positions wiped out as XRP
fell below the $3.00 level.
Meanwhile, regulatory uncertainty also weighed on sentiment. The SEC delayed decisions on multiple XRP ETF applications, including one from Grayscale, pushing timelines back to October 19. While some analysts, such as ETF Store’s Nate Geraci, view approval as a matter of when rather than if, the delay dampened near-term optimism.
On the policy front, however, there are signs of progress. The CLARITY Act—a bill aimed at providing clearer rules for digital assets—has advanced to the U.S. Senate. If passed, it could help XRP and other tokens move beyond longstanding regulatory ambiguity.
The BlackRock Factor: What If an XRP ETF Is Filed?
BlackRock has already established itself as a leader in the ETF market, with successful Bitcoin and Ethereum products under its belt. Should it choose to file for an XRP ETF, the market impact could be significant.
Immediate effect: Even before approval, a filing alone would likely attract strong speculative inflows. Traders anticipating institutional demand could drive XRP toward the $4–$5 range.
Upon approval: Institutional investors—including pension funds, asset managers, and traditional allocators—would gain a regulated pathway to access XRP. This could accelerate capital inflows, potentially pushing prices back to the $7–$10 range, and possibly testing all-time highs near $10.
Ultra-bull case: In a broader crypto bull cycle, the combination of institutional demand and ETF-driven adoption could position XRP in the $15–$20 range. Such levels would place XRP’s market capitalization in the trillion-dollar tier, alongside Bitcoin and Ethereum.
A present, XRP remains caught between whale-driven selling and ongoing regulatory delays. However, the possibility of BlackRock entering the XRP ETF arena represents a game-changing scenario. Even the prospect of a filing could reprice the market, while an eventual approval would open the door to large-scale institutional participation