Amid the ongoing price downtrend, XRP could be close to a double bottom pattern that may lead to a recovery back toward $2.
After losing 16% in October 2026, its fourth-worst October performance in more than a decade, XRP has fallen into an area that could mark the beginning of a double bottom pattern.
This is according to a recent market exposition from analyst EGRAG. If the formation develops as expected, the analyst sees a possible recovery toward $2.00. However, buyers must continue defending this area and eventually push prices higher to confirm the bullish setup.
XRP Tests Critical $1.00-$1.05 Support Zone
EGRAG called attention to the $1.00-$1.05 range on XRP’s daily chart as an important area to watch. The zone overlaps with a Fair Value Gap (FVG), which forms when prices move suddenly and leave an imbalance on the chart.
Markets often return to these gaps to fill some or all of the price imbalance. In XRP’s case, the FVG’s position around the $1.00-$1.05 support zone makes it particularly important. EGRAG believes that filling just 50% of the gap could be enough to support a reversal.
CoinDesk Analytics has also reported that XRP defended the $1.00-$1.05 support zone. However, the asset’s near-term price action remains below resistance as analysts continue watching for larger chart patterns.
The repeated defense of this range confirms EGRAG’s view that buyers still consider it an important level, although holding support does not automatically mean that a recovery has begun.
XRP Selling Pressure Shows Signs of Exhaustion
EGRAG also mentioned the appearance of XRP’s recent daily candles. Although the token continues to face selling pressure, the candles have developed smaller bodies, suggesting that sellers may be losing some of their strength.
This could show seller exhaustion. When sellers struggle to push prices lower with the same force, it indicates that fewer traders are willing to sell at increasingly lower levels. Such a change can give buyers an opportunity to regain control, although it does not guarantee an immediate price reversal.
For context, XRP trades at $1.03, down approximately 33% from its early October price of around $1.55. Despite this sharp decline, whale buying has reportedly absorbed some of the supply that could otherwise have added to the selling pressure.
XRP Eyes Double Bottom Formation With $2 Target
EGRAG’s expected double bottom formation has three main stages. The first bottom is currently forming around the $1.00-$1.05 range. If buyers defend this area, XRP could rebound toward $1.20-$1.25, marking the first recovery move.
However, the initial bounce would not complete the pattern. XRP would still need to pull back and revisit the $1.00-$1.05 area. If buyers defend the range again without allowing a decisive breakdown, the asset could establish its second bottom and complete the main part of the formation.
The next important step would be a break above the neckline resistance. EGRAG identified $1.385 as the first major upside target once XRP confirms the pattern. A move beyond that level could bring $1.51 into focus, followed by the larger target of $2.00 if buying momentum remains strong.
Despite the signs of possible stabilization around $1.00-$1.05, EGRAG insists that the double bottom needs confirmation before traders can consider it a bullish pattern. A second test of support alone is not enough. Buyers must push XRP above the neckline to show that they have gained control of the market.