Ripple Set to Unlock 1 Billion XRP Tokens in April
Ripple, the company behind the XRP Ledger development, is scheduled to unlock 1 billion XRP tokens on April 1, totaling $628.5 million. This monthly sell-off by Ripple has the potential to impact the price of XRP in the coming weeks.
**Key Points:**
– The unlocking of 1 billion tokens has been a regular practice for Ripple since 2017
– April marks the beginning of a new phase in XRP’s inflation process
– Different accounts will be used for this month’s unlock compared to previous years
**New Account Unlocks:**
– ‘Ripple (10)’ to unlock 100 million and 400 million XRP
– ‘Ripple (11)’ to unlock 200 million and 300 million tokens
What Happened After Ripple’s XRP Token Unlock in March
Previous to the upcoming unlock, in March, 1 billion XRP was unlocked from the ‘Ripple (22)’ and ‘Ripple (23)’ accounts. This led to Ripple reserving 200 million tokens for the month’s sell-off and re-locking the rest in escrows for future dates.
**Actions in March:**
– 240 million XRP spent from ‘Ripple (1)’ in two batches
– 200 million XRP sent to the reserves on March 1
– Transactions of 100 million and 140 million XRP made on March 5 and 13 respectively
XRP Price Analysis Amid Sell-Offs
The impact of Ripple’s sell-off activities on the XRP price can be seen in the company’s year-to-date selling patterns on XRP’s daily chart. Despite some days showing slight positive price movements, negative days have had a more significant effect.
**Current Situation:**
– XRP trading at $0.6285
– Price range holding above $0.60 support and below $0.65 resistance
– Investors advised to monitor Ripple’s selling activities post the token unlock in April
Hot Take: Ripple’s Token Unlock and Price Impact
As Ripple prepares to unlock 1 billion XRP tokens in April, the crypto market is anticipating how this action will influence the XRP price movements. Stay tuned to observe the market reaction and potential impact on XRP’s value post the token unlock.
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