“Ripple can, will, and should act in its own interest,” said David “JoelKatz” Schwartz in response to criticism regarding the firm’s XRP sales.
Ripple Labs is free to sell XRP tokens to raise operational capital, according to comments from the company’s chief technology officer. His remarks have sparked concerns among cryptocurrency investors.
“XRP isn’t a security because Ripple doesn’t actually owe you ‘utility’ or anything else,” Pierre Rochard, vice president of research at Riot Platforms, wrote in a March 5 X post.
“They are free to dump on you and you have no right to do anything about it other than join them in dumping XRP,” Rochard said, cautioning that investors are “not investing in Ripple,” just “getting tokens created out of thin air dumped on you.”
The SEC delayed a final decision on the XRP Spot ETF until June 17, disappointing the market’s more bullish hopes. It also postponed a ruling on the DOGE and Ethereum staking ETFs and could delay again until mid-October.
Although this deferral seems bearish on the surface, it didn’t cause a huge market splash. The Commission has been moving slowly on precedent-setting decisions like a settlement with Ripple, but it may decide on an XRP ETF before October.
However, the SEC officially delayed Franklin Templeton’s XRP ETF proposal, putting a downer on these sentiments.
The Commission didn’t stop there; it also delayed Bitwise’s Dogecoin ETF proposal as well as one for an Ethereum staking ETF.
Despite this bearish signal from the SEC, analyst James Seyffart concluded that these delays were anticipated. He went one step further, claiming that the Commission will probably also delay Solana and HBAR ETFs:
“These dates are all intermediate and we will likely see final decisions on a lot of the crypto ETPs in Q4. For the XRP spot ETF, [I’m] eyeing mid-October, around the 18th, as a final decision deadline. It’s possible the SEC won’t take all that time to make its decision, but a lot will hinge on how actively they engage on the applications,” Seyffart explained.
Although the SEC is under more crypto-friendly leadership, that doesn’t mean a bonanza of ETF approvals will start immediately.
More than 70 active ETF proposals are awaiting their verdict, and it will need to proceed carefully to sort them all out. This June deadline is not final, and the Commission could enact further delays until mid-October.
Following today’s delay, Polymarket odds of Q2 XRP ETF approvals also saw a sharp decline.
XRP ETF Approval Odds by Q2 2025. Source: Polymarket
However, the crypto community already knew that October would be the latest possible deadline. For a few reasons, the SEC has to be cautious about establishing a new precedent with these crypto ETFs.
For one thing, if it greenlights these products too hastily, the market might experience unpredictable outcomes.
Additionally, the Commission is receiving criticism that it’s losing its neutrality with these crypto reforms. Although the SEC is committed to its new stance, a spree of ETF approvals might invite further pushback.
In other words, this delaying action is not as bearish as it first appears. Since the Commission has been refraining from hasty action in different areas, the market can easily stomach another new deadline.
October is presently the worst-case scenario. Depending on a lot of small factors, the SEC could approve an XRP ETF much sooner than that.
Some altcoins are heating up as speculation swirls around TRUMP and its recently announced exclusive Gala Dinner and White House tour for the top 220 TRUMP holders, sparking a frenzy in the market.
While TRUMP has dominated headlines, several related and narrative-driven altcoins are also gaining traction and could see major moves in the lead-up to the event. Here are three altcoins to watch before Trump’s Gala Dinner: TRON (TRX), ConstitutionDAO’s PEOPLE token, and the Official Melania Meme (MELANIA).
According to Arkham Intelligence, a cold storage wallet associated with HTX—an exchange linked to Sun—has claimed the top spot on the official TRUMP leaderboard.
While the identity behind the wallet hasn’t been confirmed, the speculation alone has spotlighted TRUMP and Tron (TRX), potentially driving renewed interest and demand for the token.
If TRX catches momentum from this attention, it could break above key resistance levels at $0.249, $0.255, and $0.259. A strong rally could propel the price toward $0.30, possibly as high as $0.40—territory it hasn’t seen since December 3, 2024.
While the rumors remain unconfirmed, the narrative surrounding Sun’s potential involvement is already energizing the Tron ecosystem.
ConstitutionDAO (PEOPLE)
ConstitutionDAO was a short-lived but historic experiment in Web3 coordination. In November 2021, a group of crypto enthusiasts formed a decentralized autonomous organization (DAO) with the ambitious goal of purchasing one of the original copies of the U.S. Constitution at a Sotheby’s auction.
With only 13 known physical copies, the event attracted massive public attention and intense bidding competition.
Although the DAO ultimately lost the auction and has since been dissolved, its native token, PEOPLE, remains active and continues to trade in the crypto market.
The token has recently formed golden crosses—a bullish technical signal that occurs when short-term moving averages cross above long-term ones—suggesting growing upside momentum.
If this strength continues, PEOPLE could be on track to test key resistance levels at $0.0174, $0.0193, and potentially even $0.0239.
Official Melania Meme (MELANIA)
MELANIA, the meme coin inspired by former First Lady Melania Trump, was launched just days after the TRUMP token and has remained closely tied to its narrative.
While MELANIA has seen a significant drop from its all-time high, it could benefit indirectly from the hype surrounding Donald Trump’s upcoming Gala Dinner for top TRUMP holders.
As attention builds around TRUMP and its community, spillover interest could reignite momentum for tokens like MELANIA, especially among traders chasing political meme coin trends.
