Bill Morgan, a prominent cryptocurrency lawyer, weighed in on the recent discussion on the use case for XRP as a means of payment, admitting in a recent X post that he personally uses XRP to make direct payments.
This post was made in response to a viral survey on X (formerly Twitter) and was created as a community survey asking if members of the XRP community have ever used XRP to pay directly for products or services.
XRP as a viable payment instrument
The survey highlighted that payments can be made directly through POS systems where available or via supported debit/credit cards such as Uphold or Gemini. Bill Morgan answered this question with a simple and straightforward “yes,” further stirring up debate about the real-world utility of XRP.
Morgan’s response strongly confirms that XRP can be used for real-world payments and signals the asset’s growing real-world adoption amid repeated market uncertainties.
With Ripple promoting major altcoins to efficiently deliver institutional and cross-border payments, XRP is gaining increasing credibility as a true payment digital asset.
Although XRP has recently faced a major price correction that brought its price back to the $1 level, investors appear to be resilient regarding the asset’s long-term outlook thanks to its increasing adoption as a payment method.
XRP payments drop by 36% in 24 hours
Despite the positive enthusiasm sparked by opinion polls and Bill Morgan’s endorsement, XRP has yet to recover payment activity amid the negative price trends faced by the broader crypto market in recent days.
As XRP struggles to recover $2.50, the altcoin’s on-chain activity has significantly decreased, with data from on-chain analytics platform XRPSCAN showing that XRP payments have declined from 659,316 transactions recorded yesterday to 421,488 today.
Although this represents a 36.08% decline in XRP payments, it appears that negative trends in the market have raised doubts and holders are refraining from using XRP for payments.
Nevertheless, many perceive this as a short-term fluctuation in usage and are confident in the long-term adoption of XRP, which continues to look promising.
