Ripple Labs will unlock 1 billion XRP on Tuesday, April 1

The initiative comes from its genesis distribution, an amount estimated at US$2,34 billion, considering the cryptocurrency's current prices.

The cryptocurrency market continues to decline this Monday, April 3, after a week of setbacks that wiped out the optimism of March.

In this context, the price of bitcoin fell below the $68,000 mark again, while ether dropped below $1,900.

On the other hand, the price of XRP continues to fall and is already trading below the $2,000 mark, after several days of strong selling pressure.

What happened to the price of XRP?

At the time of writing this note, the price of XRP is trading at $2,18, down 6.5% in the last 24 hours. In seven days, the price of the token has fallen by 9%.

The price of the token has been falling in recent days amid strong selling pressure, which has pushed the price of the token down.

However, the token could be reacting and being influenced by the event that will take place next week.

This movement occurs because the unlocking increases the supply of tokens in the market, which may cause selling pressure on the token.

It is important to note that the data used for this analysis was collected on Monday, April 3, 2023, at 12:45 PM. Any changes in the blockchain or cryptocurrency market after this time may alter the totals and impact the analysis.