Attorney Jeremy Hogan, a partner at Hogan & Hogan law firm, implied that things may not go down well for XRP holders in a scenario where the Gary Gensler-led SEC wins the case. Notably, he estimated that XRP would lose 25% of its current utility if it is, perhaps, declared a security by Judge Analisa Torres as the case proceeds. 

This he said in response to a Twitter discussion started by Michelle Nightengale, the CEO of Global Institute of Wellness Entrepreneurs. Michelle wrote, “Playing devil’s advocate: Anyone know what realistically happens if Judge Torres actually deems XRP to be a security? Brad Garlinghouse already said they’d move abroad. So what would be the scenario for XRP holders?”

In response, the renowned lawyer who closely follows the Ripple-SEC wrote, “the U.S. accounts for 25% of world economic activity so, as a rough guesstimate, XRP would 25% of its utility.” 

For more clarity, a crypto journalist named CryptoScribe asked, “Xrp would what? Can you make it clearer? Thank you.” “He left out the word “lose.” He’s saying XRP would lose 25% of its utility,” Michelle Nightengale expanded.