John Deaton, the lawyer representing over 75,000 XRP holders, believes that the long-running legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC) has negatively affected the adoption of XRP for online payments on platforms like Amazon Pay, Afterpay, and others.
XRP Adoption Hindered for Over 2 Years
Deaton expressed his concern over how the protracted legal dispute between Ripple Labs and the SEC has hampered the adoption of XRP. This lawsuit has notably obstructed the potential integration that could have enabled users to pay with XRP on Amazon Pay and others alike.
In a post on X, Deaton provided a case study of Bitpay, the leading crypto payment platform. Initially, they provided users in the U.S. with the option to make payments using XRP. However, this option was removed following the lawsuit in which the SEC tagged XRP as security.
Here’s is a small yet significant example of how the lawsuit hurt #XRP’s adoption. I was just purchasing an item over the internet and the payment options include: “Pay with cryptocurrency with @BitPay.”
— John E Deaton (@JohnEDeaton1) September 3, 2023
Because of the SEC lawsuit, XRP was put at a disadvantage, which was the main point of an earlier thread on X. Deaton highlighted that Bitpay allows users to pay in Dogecoin (DOGE) and Shiba Inu (SHIB), which are meme coins, created as jokes, while payments with XRP, which was created for payments, are not allowed.
Amazon Pay, which is the main focus here, has 27% of their digital payment users in the U.S. who prefer using Amazon Pay during checkout. This large market is being prevented from using and enjoying the benefits of XRP because of the SEC lawsuit.
The Destructive Legacy of the Ripple Lawsuit
These recent remarks echo the sentiment of his older thread on X, and this post specifically where he expressed his firm belief that the SEC used the lawsuit as a weapon against Ripple. He continued, saying that XRP could have received wider adoption.
Although Ripple has enjoyed immense success, especially outside the U.S., Deaton believes the lawsuit definitely hurt XRP and the development of the XRP Ledger (XRPL).
In the midst of all of this, Ripple has made good progress in the lawsuit with the SEC with a ruling in favor of XRP, resulting in various exchange listings.
Meanwhile, Ripple CEO, Brad Garlinghouse, is already planning a long overdue victory party, despite the SEC’s appeal of part of the court’s decision.