Ripple announced a massive funding round that is set to push the development and adoption of its decentralized cryptographic ledger technology.
Following the announcement, XRP surged over 5 percent, and multiple technical indicators are signaling a further advance.
In a blog post, Ripple, a San-Francisco based technology company, revealed that it scored a $200 million investment in Series C funding, led by global investment firm Tetragon.
According to Brad Garlinghouse, the CEO of Ripple, this proves that institutional investors understand the value and utility that XRP and the XRP ledger have in improving cross-border payments.
Speaking with Fortune, Garlinghouse affirmed that Ripple has over 300 customers around the world.
As Garlinghouse prepares for what could be a "Tremendous year for Ripple," the price of XRP could be signaling a bullish impulse.
Over the past five hours, XRP surged nearly 6 percent to hit a high of $0.197.
If this happens, then XRP could move up and test the 23.6 percent Fibonacci retracement level at $0.22.
A spike in supply could take XRP below the 78.6 percent Fibonacci retracement level.
The new investment that Ripple received will undoubtedly help expand its global presence and set high expectations for the upcoming year.
Ripple secures massive investment pushing XRP up over 5%
gepubliceerd op Dec 20, 2019
by Cryptoslate | gepubliceerd op Coinage
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