The collaboration could significantly enhance trust and security in AI systems, mitigating risks of fraud and manipulation in a rapidly growing market. The post cheqd and ASI Alliance team up to address AI identity crisis with verifiable credentials appeared first on Crypto Briefing.

cheqd and ASI Alliance team up to address AI identity crisis with verifiable credentials

XRP is inching toward what could be its most consequential technical 
inflection in more than a year, according to the June 3 video analysis from 
the YouTube channel More Crypto Online (MCO). Employing classical Elliott-wave 
mapping, the analyst argues that XRP has been building a five-wave advance 
ever since the market reset in July 2023 and is now attempting to ignite the 
terminal “fifth” wave—a rally that, if it unfolds under euphoric conditions, 
could extend as far as $9. How The Roadmap Is Built For XRP “We might be in a 
process of upside reversal… It’s like a now-or-never moment,” the commentator 
told viewers, stressing that breakouts are usually obvious only after large 
portions of the move are already spent. In Elliott wave terminology the market 
is said to be preparing for a smaller-degree third wave inside the larger 
fifth, “normally the most aggressive one,” he noted, pointing to the explosive 
impulse that followed a similar set-up last year. Related Reading: Analyst: 
XRP Is Coiled For A Short Squeeze Rally On MCO’s primary chart the July 2023 
trough serves as the wave-four low of an even larger advance. From there, a 
series of lower-degree one-two formations appears to have carried XRP into 
wave three and, more recently, into a sideways, three-legged correction that 
completed in April. “We have a wave 1, a wave 2, a wave 3, the wave 4, and 
maybe this is now the fifth wave that’s unfolding,” he explained, adding that 
wave four’s depth and duration were textbook for a counter-trend pause. To 
translate wave counts into price objectives the analyst measured waves 1 
through 3 and projected the classic 61.8 percent Fibonacci extension from the 
bottom of wave 4. That calculation yields $6.20 as a “straightforward” fifth- 
wave target. The same measurement’s 78.6 percent extension sits at roughly 
$9.00, a level the commentator said “sometimes materialises in a very euphoric 
fifth wave.” Before any discussion of $5-plus prices becomes actionable, XRP 
must clear a cluster of near-term hurdles. The analyst identifies the 
$2.30–$2.40 range as the first structural ceiling; it coincides with a 
descending trend-line that has capped every rally since March and with the 
100-day exponential moving average. Related Reading: XRP Could Hit $50 If 
Ripple Gets Bank License, Claims Crypto Pundit The shorter-time-frame wave 
count shows why this band matters. From the 7 April swing low the market 
printed a clear five-wave micro-structure, implying that a fresh up-trend may 
already be underway. Yet, as the analyst cautioned, “We still have to clear 
all these previous swing highs… We’ve got resistance in this area around 
$2.30, structurally $2.40.” A decisive break above that shelf would validate a 
sub-wave (iii) target around $3.30–$3.50, the January swing-high zone the 
video calls “the next level.” Bearish Scenario For XRP Every Elliott-wave 
blueprint comes with an invalidation level. In the MCO model the entire fifth- 
wave scenario survives only if price holds above the April nadir—the start of 
wave 1 in the current one-two set-up. At the micro level the bulls must also 
defend what the video labels “the $1.99 support area.” A deeper retracement to 
$1.60 (the “red dotted line”) could be tolerated inside an extended wave 2, 
but any sustained trade beneath that mark would probably mean wave 4 is still 
developing, pushing back the timetable for a breakout. “As long as we’re 
holding above the April low, this pathway higher remains valid and plausible,” 
the analyst reiterated. Conversely, a failure there would force a re- 
evaluation of the entire count. Although the headline $9 print grabs 
attention, the analyst is clear that such an extension presupposes an extreme 
sentiment shift. Historically XRP’s rallies have often stalled near the 61.8 
percent projection, and the channel’s host reminds viewers that “market 
sentiment” ultimately decides whether the 78.6 percent extension is reachable. 
For now the focus is squarely on securing an impulsive close above $2.40 and 
then on challenging the mid-$3 region. Only once that campaign succeeds will 
the discussion move seriously toward $5.65, $6.20 and, in a parabolic climax, 
the high-single-digit zone. At press time, XRP traded at $2.23. Featured image 
created with DALL.E, chart from TradingView.com

XRP Could Hit $9 In Euphoric Fifth Wave, Elliott Wave Analyst Predicts

Sweden’s Justice Minister has reportedly ordered law enforcement to ramp up 
seizures of unexplained crypto holdings—even without direct evidence of a 
crime. The directive hinges on a controversial law that could redefine asset 
forfeiture in the digital age. On July…

Sweden’s crypto crackdown: police told to seize digital assets ‘without proof of crime’

Bitcoin has been gaining strength over the past several days, with price 
action relaying the buying interest from institutional players. A surge of 
inflows into spot Bitcoin ETFs helped push the price to $109,758, followed 
shortly after by another move to around $110,386 in the past 24 hours. This 
brings Bitcoin within close proximity to its price peak just above $111,000. 
Now that momentum is clearly leaning bullish, technical analysis shows a 
breakout that could see Bitcoin increase by another 52% within the next three 
months. Fibonacci Extension Model Points To $166,000 Price Target CryptoCon 
shared a chart based on Fibonacci extensions that places the next major upside 
target at $166,754. This level corresponds to the 5.618 Fibonacci ratio and 
marks a projected 52% increase from the current region around $109,000. The 
analyst highlighted how previous Fibonacci extension levels like $30,362, 
$46,831, $71,591, and $109,236, have all aligned with important points for 
Bitcoin&#8217;s price action throughout the ongoing cycle. Related Reading: Bitcoin 
Makes History With Highest Monthly Close, But Volume Is Still Bearish 
According to CryptoCon, this model has consistently tracked Bitcoin’s moves 
over the past two years. As shown in the price chart below, the 1.618, 2.618, 
3.618, and 4.618 Fibonacci extension levels have all been reached this cycle, 
with the latest being $109,236 at the 4.618 Fib level. Keeping this in mind, 
the next Fibonacci extension level is at 5.618, which corresponds to $166,754. 
The $166,000 mark has remained unchanged as the cycle’s next projection. But 
although the timing has proven difficult to nail down, the structure of the 
chart is still intact and continues to validate the target. Bitcoin&#8217;s price 
action is currently sitting just above the 4.618 extension level, and a 52% 
rally from here would complete the pattern. Revised Timeline Pushes Target To 
September Although the projection for $166,000 is still consistent, the 
timeline to reach it has undergone several adjustments. CryptoCon estimates 
that Bitcoin could reach the $166,000 level by September; however, he also 
acknowledged that the forecast has shifted several times. Related Reading: 
Bitcoin Price At $145,000 In September? Bullish Dojis Suggest Upward Move He 
explained that the current cycle has taken longer than any previous one, which 
has caused earlier predictions to be delayed. To put this in perspective, 
Bitcoin&#8217;s current cycle began in late 2022 after it reached a bottom around 
$15,000 during the bear market. This means the current bull phase has dragged 
on for almost three years. Still, data has shown over and over that the cycle 
is not finished, and so the only thing left to do is to wait. At the time of 
writing, Bitcoin is trading at $109,110. If the $160,000 price target is 
eventually reached in September, the next outlook would be a possible move to 
the 6.618 Fib extension, which is sitting at a price target of $254,162. 
Featured image from Pixabay, chart from Tradingview.com

Bitcoin Price To See 52% Increase To $166,000, Analyst Reveals Tight Timeline

Peter Thiel and other billionaires are planning Erebor, a new bank to fill the 
void left by Silicon Valley Bank’s collapse — with crypto firms and startups 
in focus.

Crypto Biz: Peter Thiel eyes the SVB throne

DeFi Technologies Inc, a Nasdaq-listed fintech firm, is expanding into the GCC 
and MENA regions to capitalize on the rising institutional demand for digital 
assets across the Middle East. Expanding DeFi Technologies&#8217; Global Footprint 
DeFi Technologies Inc, a Nasdaq-listed financial technology company, has 
announced a significant expansion into the GCC and MENA regions. The company 
[…]