Ripple is set to unlock 1 billion XRP tokens, valued at $628.5 million, on April 1st. This monthly sales process could have a negative impact on the XRP price in the coming weeks.

Ripple’s XRP Sales

Since 2017, Ripple has been unlocking 1 billion tokens on the first day of each month. The April unlocking will bring a change in the accounts used for internal inflation calculations for XRP.

In the March unlock, transactions were carried out using the ‘Ripple (22)’ and ‘Ripple (23)’ accounts. However, moving forward, Ripple will use the ‘Ripple (10)’ wallet for unlocking 100 million and 400 million XRP, and the ‘Ripple (11)’ wallet for two transactions of 200 million and 300 million tokens.

March Unlocking Events

In March, 1 billion XRP tokens were unlocked from the ‘Ripple (22)’ and ‘Ripple (23)’ accounts. Some of these tokens were set aside for March expenses, while the rest were re-locked for July and August 2027.

Additionally, 240 million XRP was spent from old reserves using the ‘Ripple (1)’ wallet account, with sales conducted in two parts to the same address, ‘rP4X2…Kxv3’.

How Much Is 1 XRP in Dollars?

After past unlocking events, XRP's price has seen significant negative movements. Although there have been small positive movements, overall the price has experienced more drops.

Currently, the price of XRP has slightly recovered with a 2% increase, trading at $0.6378 and above the $0.60 support level. It is now approaching the $0.65 resistance level. Investors should monitor Ripple’s sales activities closely following the unlocking of tokens worth over $628.5 million.

This information was first posted on COINTURK NEWS: Ripple Prepares to Unlock 1 Billion XRP Tokens