XRP pulled in $120 million in weekly inflows, the largest among cryptocurrencies, while the Polymarket contract for XRP reaching $2.60 in April sits at 0.9% YES.

Market reaction

Seventy percent of the inflows originated from Switzerland, pointing to European institutional buying. This occurred as geopolitical tensions, including the potential closure of the Strait of Hormuz, pushed oil prices higher and pulled capital away from risk assets. The April $2.60 market has not moved, holding at 0.9% YES, unchanged from a week ago.

Why it matters

The CLARITY Act, which would classify XRP as a digital commodity, is pending in the Senate. If passed, it could open the door to broader institutional allocation. But the XRP…