- The funding round was led by asset investment firm Tetragon.
- The RSI indicator bounced up from the oversold zone and is trending around 38.70.
Ripple announced that they were able to raise $200 million in series C funding. The funding round was led by alternative asset investment firm Tetragon with additional funding procured from Japan’s SBI Holdings and VC firm Route 66 Ventures. Regarding the financing, Ripple CEO Brad Garlinghouse said:
We are in a strong financial position to execute against our vision. As others in the blockchain space have slowed their growth or even shut down, we have accelerated our momentum and industry leadership throughout 2019.
XRP/USD daily chart
XRP/USD went up from $0.188 to $0.195 so far this Friday and is trending in a triangle formation. The price dropped below the 20-day Bollinger Band, indicating that it was underpriced. This Friday’s price action following the news about its series C funding, XRP/USD was able to re-enter the band. The price is hovering below the 200-day Simple Moving Average (SMA 200), SMA 50 and SMA 20 curves. The Relative Strength Index (RSI) indicator bounced up from the oversold zone and is trending around 38.70, indicating that the bulls have started affecting the market. On the other hand, the Elliott Oscillator and Moving Average Convergence/Divergence (MACD) both show overall bearish sentiment.
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