On March 11th, the crypto market witnessed a bullish turnaround after days of selling pressure. This uptick triggered a +5% surge in Bitcoin price as trade tension eased between the United States and Canada. However, some altcoins could struggle to build recovery potential as the U.S. Securities and Exchange Commission delays their highlighted anticipated ETF approval.
Key Highlights:
- The U.S. SEC postpones decisions on ETFs for XRP, Solana, Litecoin, and Dogecoin, creating market uncertainty.
- XRP and Solana defend multi-month support to recuperate the recovery momentum.
- Litecoin and Dogecoin prices continue to show a steady consolidation within a fixed range, waiting for a suitable breakout for further rally.
Altcoins Brace for Volatility as SEC Postpones ETF Decisions
The U.S. Securities and Exchange Commission (SEC) has delayed its decision on multiple altcoin-based exchange-traded funds (ETF) applications, including those tied to Dogecoin (DOGE), Litecoin (LTC), Solana (SOL), and XRP. The news gained traction after Bloomberg’s ETF analyst James Seyffart confirmed that the SEC had “punted” on these filings, citing standard regulatory procedures. Despite the delay, experts maintain a cautiously optimistic outlook on eventual approvals.
Seyffart emphasized that the deferral does not significantly alter expectations, stating that the likelihood of approval remains “relatively high.” However, the final deadlines for these ETFs are set for October, leaving the market in anticipation.
Yes, the SEC just punted on a bunch of alt coin ETF filings including Litecoin, Solana, XRP & DOGE. It’s expected as this is standard procedure & Atkins hasn’t even been confirmed yet. This doesn’t change our (relatively high) odds of approval. Also note that the final deadlines…
— James Seyffart (@JSeyff) March 11, 2025
This latest postponement highlights the SEC’s continued scrutiny of cryptocurrency-related investment products, which could promote a prolonged correction trend in these assets.
XRP (XRP)
XRP, the native cryptocurrency of a global payment company, Ripple, records a +9% surge during Tuesday’s trading session to trade at $2.187. While the uptick followed a broader market recovery, the XRP price shows its sustainability above multi-month support of $2.
Historical data shows a bullish reversal from this support has led buyers with a recovery range from 36% to $70%. Therefore, the Ripple crypto shows a higher potential for a 25% surge and challenge key resistance of $2.7, despite the SEC delay in approving XRP ETF.
Solana (SOL)
In the last two months, the Solana price witnessed a notable downturn from $295 top to $125 current trading value, registering a loss of 58%. This correction pushed the altcoin to horizontal support of $120, which acted as a major accumulation zone since February 2024.
Historically, a bullish reversal from this support has bolstered a recovery rally ranging from 60%-120%. With an intraday gain of 6+, the SOL price shows potential for another rebound which challenges overhead resistance of $180, $220, and $264.4
Dogecoin (DOGE)
The daily chart analysis of the Dogecoin price reveals the formation of a falling channel pattern. The chart setup drives a steady correction trend between two downsloping trendlines which act as dynamic resistance and support.
Generally, a reversal from one trendline leads to a potential movement to the other until a decisive breakout. With an intraday gain of 7%, the DOGE price sparks a bull cycle within the channel.
If true, the buyers could drive a 75% rally to tease an upside breakout from the overhead trendline.
Litecoin (LTC)
For the past four months, the Litecoin price has resonated strictly within two horizontal levels of $140 and $87. The coin price bounced several times from the boundaries of this range, highlighting its credibility in influencing the price movement.
Today, the LTC price is up 3% and shows intact demand pressure at $87 with a long-tail rejection candle. If the pattern holds, the coin price is poised for a 55% surge from the current training price of $90, to challenge the overhead resistance.
A potential breakout from $140 is crucial to continue the prevailing uptrend.
Also Read: CBOE Seeks SEC Approval for Staking in Fidelity Ethereum ETF
