Legend tells that the Raven banner was made by Ragnar’s 3 daughters in one day. The sons of Ragnar used this banner as their mark.
According to the Anglo Saxon Chronicle, when the banner was waving in the wind it was seen as a sign of victory but if it was just hanging down it
The Raven icon most likely symbolized the two Ravens of Odin, Hugin and Munin which in turn gave them the connection to the Gods. A common feature in the Scandinavian area. More than one king should have fought under this banner. According to legend it is said to have been King Knud I the great of Denmark banner as well!