XRP's Double Catalyst: Real-World Tokenization Meets Senate Clarity as Whales Accumulate

XRP climbs 4% as Senate committee advances CLARITY Act for CFTC oversight, and JPMorgan-Mastercard-Ripple complete 5-second tokenized Treasury settlement on XRPL.

XRP is riding two distinct waves simultaneously. In Washington, a Senate committee has advanced legislation that would classify the token as a digital commodity under CFTC oversight. On the ground, JPMorgan, Mastercard and Ripple have completed a cross-border settlement of a tokenized Treasury fund on the XRP Ledger in under five seconds — a process that typically takes banks one to three days via correspondent networks.

The price action reflects the tension between these bullish catalysts and lingering macro headwinds. XRP traded at $1.48 on Friday, up 4.14 percent on the day and roughly 7 percent over the past week. It briefly spiked to $1.55 after the committee vote before profit-taking and the expiry of $2.6 billion in crypto options on Deribit dragged it to a temporary low of $1.40. The token remains above its 50-day moving average but still 20.89 percent in the red year to date.

The CLARITY Act cleared the Senate Banking Committee by a 15-9 vote. To become law, it needs 60 votes in the full Senate. A successful passage would end years of regulatory limbo for XRP by placing it under the Commodity Futures Trading Commission rather than the Securities and Exchange Commission. That shift is widely seen as a prerequisite for deeper institutional adoption.

Institutional adoption is already happening in the background. The tokenization pilot involved Ondo Finance’s OUSG fund — a short-term US Treasury bond product with $250 million in assets under management, an average duration of 100 days, and a yield of 4.8 percent. Ondo processed the redemption on XRPL, Mastercard’s Multi-Token Network routed the instructions, and JPMorgan settled the dollar leg through Ripple’s bank account in Singapore. For the first time, JPMorgan’s private blockchain connected directly to a public layer-1 chain.

The numbers behind OUSG are growing. Total assets across the fund stand at roughly $680 million, with 2.8 million OUSG tokens on the XRP Ledger. Monthly transfer volumes on XRPL have reached about $101 million.

Ripple’s institutional push extends beyond pilots. A $200 million credit facility from funds managed by Neuberger Specialty Finance — part of Neuberger Berman, which oversees $570 billion — will expand Ripple Prime, the firm’s institutional trading platform. Since its acquisition in 2025, Prime has tripled revenue year over year. The facility signals that deep-pocketed asset managers see a use case for XRP as liquidity, RLUSD as settlement, and XRPL for on-chain execution.

Spot XRP ETFs listed in the US have attracted cumulative net inflows of $1.35 billion, with a single-day record of $25.8 million. Before that surge, inflows had reached $1.25 billion. Binance’s latest proof-of-reserves shows net user XRP balances increased by 16.09 million tokens, with total holdings of 2.6 billion XRP and a reserve ratio of 101.01 percent.

On-chain data confirms a structural shift. Wallets holding more than 10 million XRP now control 68.5 percent of the circulating supply — a level last seen in May 2018. Active addresses have climbed above 48,000, and daily network growth, measured by newly created wallets, hit a multi-month high.

Away from the market, Ripple is preparing the XRP Ledger for post-quantum security. The roadmap runs to 2028, with real-world load testing of quantum-resistant cryptography scheduled for the first half of 2026. Integration of selected signature schemes on the Devnet is planned for the second half of 2026, in collaboration with Project Eleven. A native lending protocol is also in the works, offering fixed-rate loans and isolated vaults with maturities between 30 and 180 days.

For all the infrastructure progress, the chart still needs convincing. XRP has lifted from its recent low of $1.22 but remains below the long-term trendline at $1.74. The CLARITY Act vote gave the bulls a reason to buy, and the institutional tests give them a story to tell. The next phase depends on whether pilots become recurring revenue and whether the full Senate delivers on the regulatory promise.