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XRP runs alone as clash over U.S. Clarity Act intensifies

In the first week of June, the crypto market moved around three themes: XRP’s outperformance, bitcoin’s lack of direction and a power struggle over the U.S. Clarity Act. Spot bitcoin ETFs logged outflows for 10 straight sessions, pushing cumulative net outflows close to $3 billion, while XRP ETFs extended net inflows. JPMorgan publicly opposed the bill, citing a ban on paying interest to stablecoin holders, prompting pushback from Coinbase and support from Senator Cynthia Lummis.