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XRP as a means of payment: Lawyer confirms use and fuels discussion!
Bill Morgan, Pro-Crypto Lawyer, Confirms Use of XRP for Payments; Discussion about real application and market trends.
XRP as a means of payment: Lawyer confirms use and fuels discussion!
Bill Morgan, a prominent pro-crypto lawyer, has publicly expressed his support for XRP as a means of payment. In a discussion on Platform X, known for its active crypto community, Morgan explained that he has personally used XRP for a direct payment. His post was in response to a survey that asked the XRP community if they have ever used XRP directly for products or services. Morgan confirmed with a resounding “yes,” further fueling the debate about the practicality of XRP. This discussion highlights the increasing adoption of XRP in the real economy, particularly through Ripple's efforts to mainstream XRP for institutional and cross-border payments.
Despite a recent correction that brought XRP's price back to around $1, the community is showing resilience towards the asset's long-term prospects. The lawyer highlighted that direct payments are possible via a POS system or supported debit/credit cards, such as Uphold or Gemini. This suggests that more individuals and businesses are actually adopting XRP as a valid payment method.
Current payment statistics
However, recent data from the XRP community shows that the number of XRP payments in the last 24 hours fell to 421,488, a decrease of 36% compared to the 659,316 transactions the previous day. This decline is analyzed in many ways and is largely attributed to the negative price trend in the broader crypto market. But the community is optimistic. Many members view this reduction as a short-term fluctuation and remain confident about the future adoption of XRP.
The momentum surrounding XRP and Morgan's public endorsement are indicators of the continued progress of cryptocurrencies in payments. Ripple and other players in the industry are intensifying their efforts to promote the everyday use of digital assets, which underlines the relevance of XRP in this context.
Overall, the case of XRP shows how important it is to monitor both the positive developments and the short-term setbacks in order to make informed decisions in the cryptocurrency space. The coming months could be crucial for the future role that XRP plays in global payments.