Ripple has a great end to Year 2019. The network announced that it has earned $200M funding in a Series C investment. The Series C was led by Tetragon with participation from SBI Holdings and Route 66 Ventures. Ripple plans to use these funds to accelerate XRP adoption globally. Following the news, XRP price saw a sudden spike in its price.
XRP Price Analysis:
Within a few minutes after the announcement, the XRP price rose by a 3% increase from $0.188 to $0.194 against USD. The XRP/USD price has been constant since then until a few hours back. The XRP is currently trading at $0.191675 USD with a 1.7% rise. Even XRP/BTC is trading 2% higher at 0.00002674 BTC. Even the 24hr trading volume has reached to $1,637,196,126 USD.
XRP Technical Analysis:
Ripple price is showing some signs of recovery after a glance at Tradingview data. Ripple has made a higher low on the 4-hour chart.
- RSI Indicator – the RSI downtrend has been broken which can sometimes indicate price may change trend. However, the price is again edging towards level-30 that shows XRP will trade low again.
- MACD Indicator – MACD 4-hr chart shows the price in the green zone, and it is increasing. A break of the 0.200 level could be the confirmation. The trendline on the chart is also looking strong and a break would be a bullish signal.