The clock is ticking for XRP in Washington. The Senate Banking Committee must vote on the Digital Asset Market CLARITY Act before May, or the bill risks being swallowed by the midterm election cycle. For the token, the stakes extend far beyond a procedural checkbox: codifying its commodity classification into permanent federal law would unlock a flood of institutional capital that has so far remained on the sidelines.
That legislative urgency collides with a flurry of infrastructure upgrades designed to court big money. On May 1, Coinbase will activate Trade-at-Settlement (TAS) functionality for XRP futures, a regulated mechanism that lets institutional traders execute large block orders at the official daily closing price. The feature eliminates execution risk from intraday price swings and brings XRP parity with Bitcoin, Ethereum, and gold on the platform. The move follows last month’s landmark joint decision by the SEC and CFTC to classify XRP as a digital commodity—a binding federal ruling that cleared the legal path for regulated derivatives products. Coinbase’s market surveillance team will monitor TAS activity to prevent manipulation.
Billions in Waiting
The new trading tool arrives as demand from traditional finance accelerates. Since XRP ETFs launched in November 2025, the funds have accumulated $1.28 billion in cumulative inflows. After a soft patch, April is shaping up to be the strongest month of the year with $75 million in fresh capital so far. Providers including Bitwise and Franklin Templeton are reporting near-daily subscriptions.
Yet the real prize remains contingent on the CLARITY Act. Standard Chartered analyst Geoffrey Kendrick estimates that passage of the bill could trigger up to $8 billion in additional inflows. Banks and large asset managers, he argues, are waiting for full regulatory certainty before committing significant capital. The legislation would enshrine XRP’s commodity status in permanent statute, insulating it from future changes in agency leadership.
Washington’s political winds are shifting favorably. CFTC Chairman Brian Quintenz has positioned the agency as innovation-friendly, while Ripple CEO Brad Garlinghouse now serves on an official advisory committee to the regulator. But time is running short: if the Senate Banking Committee fails to vote on the CLARITY Act before May, the bill is considered dead for the remainder of 2026 due to the escalating presidential campaign season.
Should investors sell immediately? Or is it worth buying XRP?
Price Pain Meets Network Strength
On the spot market, XRP trades at $1.44, down roughly 23% year-to-date. The distance from last July’s 52-week high now stands at nearly 60%. The token has stabilized just above its 50-day moving average, but a meaningful recovery would need to reclaim the long-term trendline near $1.85.
The price weakness stands in stark contrast to on-chain fundamentals. The XRP Ledger is adding an average of 86,000 new wallets per month this year. Since February, large holders have withdrawn approximately 7 billion tokens from exchanges, a pattern typically associated with accumulation. The network’s operational strength, however, has yet to translate into price momentum.
Beyond the Price Chart
Ripple is pushing ahead with a multi-year technology roadmap that extends well beyond the current trading environment. A four-phase plan, developed in partnership with research firm Project Eleven, aims to make the blockchain fully quantum-resistant by 2028. Prototypes are already being tested at the validator level.
Another upgrade in the pipeline is a native credit protocol. The code is complete and now awaits validator approval. If implemented, the feature would enable on-chain lending markets, transforming XRP from a pure payment system into a broader decentralized finance platform.
The immediate catalyst, however, remains political. Polymarket traders currently price the probability of XRP hitting a new all-time high in 2026 at just 13%. A failed CLARITY Act vote would likely depress expectations further. Conversely, passage would marry a newly fortified regulatory framework with an institutional trading infrastructure that goes live on May 1—potentially creating a powerful convergence of legislative certainty and market access.
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