According to insights shared by lawyer John E. Deaton, the ongoing SEC lawsuit against Ripple has had a negative impact on the adoption of XRP.

The lawyer, following the legal proceedings, recently took to X to highlight a notable example of how the lawsuit hindered the cryptocurrency’s adoption.

  • Deaton’s observation comes as a shared personal experience from when he attempted to make a payment over the Internet.
  • He noticed that the payment options included the well-known crypto payment processor BitPay, which initially had supported XRP as one of its accepted cryptocurrencies.
  • However, Deaton revealed that following the SEC lawsuit against Ripple, BitPay stopped processing XRP transactions within the United States.
  • Before the lawsuit, XRP was widely recognized as a cryptocurrency for efficient cross-border payments and transactions.
  • In contrast, other cryptocurrencies like Dogecoin, created initially as a humorous take on the digital currency phenomenon, have taken on unexpected roles, such as being used for payments.
  • Deaton’s tweet highlights the irony of the situation, wh

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Author: Jordan Lyanchev

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