Since the approval of Spot Bitcoin ETFs, speculations about the potential for an XRP Spot ETF continue to grow in the crypto community. However, recent reports have suggested a lack of clear prospects for an XRP ETF in the future.
Notably, Charles Gasparino, an American journalist and senior correspondent at Fox Business has revealed that BlackRock has dismissed any possibility of filing for an XRP ETF.
No Prospects For An XRP ETF
In a recent X (formerly Twitter) post, Gasparino disclosed that BlackRock, one of the world’s leading investment companies, has allegedly declared having “no plans” for an XRP ETF. The shocking news shared on Thursday, January 18, had a swift but unfavorable response from the XRP community. Interestingly, this disclosure also follows BlackRock’s Chief Executive Officer (CEO) Larry Fink’s recent elusive remarks about a potential XRP ETF.
During a Fox Business interview with Gasparino, Fink faced questions about the possibility of launching an XRP Spot ETF. However, the BlackRock CEO swiftly responded with an abrupt “I can’t talk about that!” The elusive reply sparked discussions in the crypto community as experts attempted to probe Fink’s words for hidden meanings towards an XRP ETF.
While BlackRock has made no solid statements about an XRP ETF, Gasparino has affirmed that individuals with firsthand information on the matter have confirmed that the investment company has ruled out an XRP ETF. The American journalist disclosed late last week that Fink lacked in-depth knowledge of XRP, hence his non-committal response to Gasparino’s questions about a potential BlackRock XRP ETF.
The Fox Business senior correspondent also revealed today that he will be engaging in a detailed discussion with Fox Business Anchorwoman Liz Claman to explore BlackRock’s reasons for supposedly having no intentions for an XRP Spot ETF.
Token price at $0.54 | Source: XRPUSD On Tradingview.com
XRP Price Declines Further
The recent bearish trend in the price of Bitcoin has had a boomerang effect on several top cryptocurrencies in the market. Despite its price staying stagnant for months, XRP has not been exempted from this bearish sentiment. Additionally, rumors of an XRP ETF have been unable to save the cryptocurrency from a significant price correction.
Recently, XRP witnessed a significant decline, falling below the crucial support level of $0.55 highlighted by crypto Analyst Ali Martinez. At the time of writing, the cryptocurrency is currently trading at $0.549, according to CoinMarketCap.
Martinez has revealed that a failure to maintain the $0.55 support level could potentially trigger a massive sell-off phase that may see the price of XRP dropping down toward a $0.34 price mark.
Featured image from CoinGecko, chart from Tradingview.com
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Author: Scott Matherson