- Ripple’market value reached $10 billion after Series C financing round.
- XRP/USD recovery is limited by the resistance of $0.20.
Fintech startup Ripple closed the financing round Series C that brought the company $200 million. Tetragon led the investment round, other participants included SBI Holdings и Route 66 Ventures.
Ripple team plans to spend the raised financing on promoting its XRP-based technology to banks and payment systems.
The CEO of Ripple Brad Garlinghouse commentedˆ
“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.”
Then the company also noted that in 2019 Ripple’s global payment network increased to 300 customers all over the globe. The clients of the system are located in over 45 countries, while the payments can be accepted in over 70 countries.
XRP: technical picture
XRP/USD recovered to $0.1984 on Friday and retreated to $0.1900 by the time of writing. A strong barrier of $0.2000 limits the price recovery, and we need a sustainable move higher to improve the technical picture and allow for an extended recovery towards $0.2100-$0.2130 area that includes SMA100 (Simple Moving Average) 4-hour and the lower boundary of the previous consolidation channel. The next significant resistance awaits us at $0.22 (SMA200 4-hour).
On the downside, if $0.1900 is broken, the sell-off may continue to $0.1800 and $0.1750 (December 18 low).
