[DigitalToday reporter Yoonseo Lee] Cryptocurrency trader Freedom By 40 forecast XRP could rise into the $5 to $9 range.

The Crypto Basic, a blockchain media outlet, reported on Oct. 1 (local time) that XRP is trading around $1.49, making Freedom By 40's forecast far above the current price.

He applied Elliott Wave theory, Fibonacci retracement and trendlines to an XRP/USD chart based on Bitstamp data and presented a target range of $5 to $9.

His chart reading starts with a sideways move that ran from 2023 through late 2024. During that period, XRP formed a pattern of lower highs and higher lows, then broke upward around $0.50 in late 2024. It later rose more than sixfold, topping $3 in early 2025. Freedom By 40 viewed that stretch as the first upward wave, Wave A, and classified the subsequent decline as a Wave B correction.

He focused on the downtrend after the 2025 peak. The chart shows a downward trendline and sub-waves labeled 1 through 5, with the fifth wave summarized as falling to around $0.90. That segment also describes a move from a $3.66 peak in mid-2025 down to $0.98 by mid-2026.

The $0.90 range also overlaps with the 0.618 Fibonacci retracement level. XRP rebounded strongly from that area to $1.70, then pulled back to around $1.50. He saw that recovery as a possible start of the next upward move.

In the near term, he pointed to $1.167, $1.325 and $1.439 as key support levels. He said those prices could act as support if upward momentum weakens during a rebound. He set upside targets at $5.80 and $9.40. He linked $5.80 to the 0.786 Fibonacci extension and $9.40 to the 1.0 extension level on the chart.

A rise from $1.49 to $5.80 would be about 289 percent, and a move to $9.40 would be about 530 percent. For holders of 100,000 XRP, the value would reach about $940,000 if XRP hits $9.40, nearing $1 million.

The forecast is a target based on technical analysis. Freedom By 40 said the $5.80 to $9.40 range is a "technical projection" and that the Elliott Wave structure itself could change if new price data emerges. That would mean the current target range could be invalidated if XRP does not follow the expected pattern.

The analysis ultimately puts weight on the view that XRP's correction phase has ended and that a bull market is just starting. He also assumed that price swings could continue during the rise. The market is therefore watching whether the $0.90 area remains seen as a bottom and whether XRP can hold the support zone between $1.167 and $1.439, which remains a key variable for the next move.

$XRP going to between $5-9 imo, now priced at $1.54. https://t.co/0FPLQfADr6 pic.twitter.com/37SKWmHLfU