A method for suspending a rotor blade uptower includes mounting a first end of a support structure at a first uptower location of the wind turbine. The method also includes securing the rotor blade to a second end of the support structure. Further, the method includes mounting at least one pulley block assembly between a second uptower location and the support structure. Moreover, the method includes routing at least one pulley cable from at least one winch over the at least one pulley block assembly. In addition, the method includes detaching the rotor blade from the hub of the wind turbine. Once the rotor blade is detached, the method includes rotating the support structure about the first end via coordinated winch operation so as to lower the rotor blade a predetermined distance away from the hub. Thus, the method also includes suspending the rotor blade at the predetermined distance away from the hub via the support structure.