XRP Fine Could Drop Below $100 Million

Jeremy Hogan, a well-known lawyer among XRP supporters, had a lively chat on social media about Ripple's court case with the SEC. He responded to another XRP lawyer, John E. Deaton, who said that if Ripple pays $20 million or less, it's almost a complete win for them.

Hogan joked about "damages" saying “I was in a small argument with my wife last night, which means, I am thinking about ‘damages’ this morning.” But seriously, he talked about the SEC's ability to demand 'disgorgement' — meaning Ripple might have to give back money made from XRP sales. The court found Ripple made about $770 million in sales. An amount the SEC claims they shouldn't have.

Ripple could lower their SEC fine by arguing they should only return 'net profits'—money after costs—rather than all the sales. Hogan used a previous court case to support this view, suggesting fairness should consider Ripple's business expenses.

He mentioned 'victims'—people who lost money—which is tricky because XRP's price actually went up during the court case. This could suggest XRP isn't a security, a crucial point in the legal battle.

Sales outside the US could be ignored by the SEC, said Hogan. If Ripple sold XRP to buyers without US ties, these might not count. He also explained that the SEC doesn't need exact figures for penalties; they can give an estimate, and Ripple would have to prove otherwise.

The SEC might argue against Ripple writing off certain expenses, especially if they relate to legal wrongdoings. Hogan predicts the final fine will be much less than $770 million, possibly below $100 million if certain rumors are true.

At the time this was written, the price of XRP was $0.6804.