Is Ripple Considering A Merger With Celsius
Estimated Reading Time: 3 minutes
Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more
Free Crypto Signals Channel
Free Telegram Channel
A spokesperson for the company noted: “We are interested in learning about Celsius and its assets and whether any could be relevant to our business.” However, this insider refused to comment on questions about the possibility of Ripple outrightly acquiring Celsius.
The spokesperson boasted that Ripple has grown despite unfavorable market conditions and “is actively looking for M&A opportunities to strategically scale the company.”
Celsius halted all withdrawals on its platform in June, blaming “extreme” market conditions. The company later filed for bankruptcy in New York last month, reporting a $1.19 billion deficit on its balance sheet.
Last week Ripple lawyers submitted filings with the New York bankruptcy court requesting to be represented in the proceedings, which the court granted earlier this week. However, the blockchain payment company told Reuters following queries over the court filing that it was not among Celsius’ key creditors.
That said, Celsius has yet to comment on questions about the development from the press.
Key Ripple Levels to Watch — August 10
Ripple (XRP) has rebounded towards the $0.3800 top today as efforts to regain a bullish momentum strengthened. This rebound comes after the cryptocurrency grazed the solid bullish trendline near $0.3600 earlier today.
While the price struggles to break the $0.3800 mark at press time, I expect a follow-through bullish rally in the coming hours that could put XRP on the cusp of $0.4000 in the coming hours and days. On the flip side, bearish attempts should be repelled by the ascending trendline in the near term.
Meanwhile, my resistance levels are $0.3800, $0.4000, and $0.4200, and my support levels are $0.3600, $0.3500, and $0.3400.
Total Market Capitalization: $1.13 trillion
Ripple Market Capitalization: $18.2 billion
Ripple Dominance: 1.6%
Market Rank: #6
You can purchase Lucky Block here. Buy LBlock
