XRP is trading around $1.51 and has held near $1.50 since late September as attention shifts to a New York shareholder vote on the merger creating Evernorth. The company would hold 473 million XRP and list on Nasdaq under ticker XRPN. XRP is also facing a technical test, with $1.45 viewed as a downside trigger and $1.55-$1.56 as the key upside range. The token remains about 59% below its $3.65 all-time high from July 2025. Seven other U.S. spot XRP ETFs hold about $1.77 billion in assets and approximately 1.18 billion XRP, equal to 1.9% of circulating supply. They attracted about $1.79 billion after withdrawals, while contributions increased by roughly $76 million in the preceding week. At a typical 0.25% annual fee, the combined assets would generate about $4.4 million in yearly fees across the seven issuers before revenue-sharing arrangements. BlackRock’s head of digital assets, Robbie Mitchnick, has identified client demand, market value, liquidity, maturity and portfolio fit as launch considerations, with client demand the leading criterion. Canary Capital CEO Steven McClurg speculated in January 2026 that BlackRock could file by late 2026 or early 2027, but BlackRock has confirmed no timetable, and no application or launch has been announced. Its acceptance of Ripple’s RLUSD stablecoin as collateral for the BUIDL tokenized Treasury fund is not evidence of a spot XRP ETF. The next important evidence is the Evernorth vote, a confirmed BlackRock filing or a decisive move outside the $1.45-$1.56 range.