- According to a report from Reuters, Ripple could be working to save Celsius.
- Both companies are silent about a planned takeover.
- The CEL token was able to increase by 40% today due to the announcement.
Ripple is interested in Celsius and how the assets of the insolvent CeFi lender can be used if necessary. This is according to a report from Reuters. Similarly, both companies did not want to comment on a possible takeover by Ripple.
If it does happen, it would be a sensation. Celsius suffered severely from the collapse of Terra and that of 3AC. The insolvency proceedings of Celsius were opened in July and the proposals to save the company do not look promising so far. For example, they wanted to increase sales with a mining farm, although the plant is not yet ready and the Bitcoin price still remains far below $ 30,000.
So additional investments or a buyer would probably have a better chance of helping Celsius jump on the jumps. It could also sometimes be possible to sell rich parts of the company or its assets.
CEL course goes steep
There is still little substantive that can be said about a possible rescue plan by Ripple. The fact is that Ripple itself is in a complicated procedure with the SEC, the outcome of which is far from certain. Although you can always win stage victories in court, this does not anticipate the final verdict by the court.
Of course, the market is not very interested in this, because so far the CEL token is on a recovery course and could reach $ 2.50 in the short term today. From a chart technical point of view, it must now be seen whether the $ 2 mark offers support in the event of a correction. However, this would not be bullish for a long time, because currently you would only have formed a lower high in the daily and weekly chart. This tends to indicate the continuation of a bearish trend in these timeframes.
Nevertheless, one should not bury the CEL token in a lump sum, because if Ripple or another investor makes the surprise perfect, then this would certainly add additional momentum to the already ongoing price rally.
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