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- Ripple may settle its SEC case for just $10–12 million, far less than the initial $125 million fine.
- With the SEC backing off its appeal, Ripple gains leverage and may retrieve escrowed funds and lift restrictions.
Ripple‘s long-running legal saga with the SEC might be reaching a surprising conclusion — and one that will cost the crypto company far less than the court originally mandated. Legal expert Fred Rispoli now believes Ripple will only have to pay a fraction of the original $125 million fine, with the ultimate fine being in the range of $10–12 million.
Ripple's $125M SEC Fine: Will It Vanish or be Reduced?!
Attorney Fred Rispoli shares his thoughts on what may happen to Ripple's $125 million fine following the SEC’s decision to drop its appeal in the XRP case.
Watch the full episode https://t.co/Pl7juFXvkc#xrp #ripple #sec… https://t.co/E409bGMR2l pic.twitter.com/fho8K9nfqm
— Tony Edward (Thinking Crypto Podcast) (@ThinkingCrypto1) March 20, 2025
Rispoli, who leads Hodl Law, shared his view during a chat on the Thinking Crypto Podcast. He called attention to how unusual it was for the SEC to walk away from its appeal after fighting so hard — especially with a hefty $125 million fine already hanging over Ripple.
The roots of the fine stretch back to August 2024, when U.S. District Judge Analisa Torres slapped Ripple with the $125 million penalty. The court ruled that Ripple failed to register institutional XRP sales as securities and banned the company from doing similar sales in the future.
Ripple’s Counterpunch: A $10M Offer Still on the Table
Months before the court’s decision, Ripple had offered something very different. In April 2024, when responding to the SEC’s motion for remedies, the company floated a $10 million civil penalty instead of the SEC’s aggressive $2 billion ask. Ripple also asked that any additional disgorgement or interest be thrown out.
The proposal didn’t seem to impress Judge Torres at the time. She imposed a significant monetary fine on Ripple and a permanent injunction. However, the court fight didn’t end there. Ripple CEO Brad Garlinghouse recently said that while the company placed the full $125 million in escrow, it’s taking back that money now that the SEC is backing down on its appeal.
Garlinghouse stated that Ripple is also asking for the removal of the injunction — another significant condition in talks that might lead the company to drop its own cross-appeal. The SEC’s retreat has clearly emboldened Ripple’s stance, and company leaders aren’t hiding their optimism.
Ripple in Control: SEC’s Setback and Public Push Plans
Ripple’s Chief Legal Officer Stuart Alderoty responded positively, pointing to Ripple’s strengthened legal standing and strategic advantage. He confirmed the company’s intention to carefully decide on the next best course of action regarding its cross-appeal.
“Ripple is now in the driver’s seat and we’ll evaluate how best to pursue our cross appeal. Regardless, today is a day to celebrate,” said Stuart.
The SEC’s case against Ripple began with a loss in July 2023 when Judge Torres ruled that XRP sold to the general public wasn’t a security. But she also gave the agency a win by ruling that Ripple’s $728 million in institutional XRP sales did break securities laws.
