There are two basic questions here. Can you import XML into InDesign and can ou apply formatting to this text in a specific way.
Happily the answer to both of these questions is YES!
You can learn almost everything you need from my book: A Designer's Guide for Adobe InDesign and XML.
InDesign can import XML and apply formatting automatically based on the tag name. InDesign also provides grep styling and nested styling.
Tables are a scarier process. You can import data into tables using XML, but it is not as straightforward as using paragraph-based text. A better way to accomplish XML-based tables is to use an XSLT to build native InDesign tables from the data.
You can then apply character, grep or nested styles to the data based on the tag names.