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Today’s Cryptocurrency Headline

Ripple Labs Inc. is interested in potentially purchasing assets of bankrupt crypto lender Celsius Network, according to a company spokesperson. The spokesperson also noted that Ripple has continued to grow through the crypto market turmoil and “is actively looking for M&A opportunities to strategically scale the company.” However, the spokesperson declined to comment on whether Ripple intends to acquire Celsius outright. Celsius froze withdrawals in June citing “extreme” market conditions and filed for bankruptcy in New York last month, listing a $1.19 billion deficit on its balance sheet.

BingX’s Bitcoin Chart

Source: TradingView & BingX

Bitcoin is down 1% over the last 24 hours and fell to an intraday low of $23,771.00. The largest cryptocurrency has experienced substantial volatility over the last 24 hours. It reached an intraday high above $24,900 on Thursday, but the price pulled back to $24,000 in the following hours, indicating the seller remains active at higher levels. The bulls will attempt to push the price above the overhead resistance at $24,930 again. If they succeed, the BTC/USDT pair could pick up momentum and rally to $28,000. Conversely, if the price turns down from $24,930, the bears will again attempt to pull the pair below the 20-day exponential moving average($23,157).

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