XRP is drawing attention around the $1.00 to $1.05 range, where analyst EGRAG sees the possible start of a double bottom. The pattern, if it develops, could open a path toward $2, though the setup still needs confirmation.
Support zone draws focus
EGRAG pointed to the $1.00-$1.05 area on XRP’s daily chart. The zone overlaps with a fair value gap, a chart area created when price moves quickly and leaves an imbalance behind. Markets often return to such gaps, and the analyst thinks filling even half of this one could help support a rebound. CoinDesk Analytics also reported that XRP defended this range. Still, holding support does not prove a recovery is underway. Buyers have to keep showing up.
Selling pressure looks weaker
The daily candles may offer another clue. XRP has faced steady selling pressure, but recent candles have smaller bodies. That can suggest sellers are losing force. When price keeps dropping but sellers struggle to push it lower with the same strength, it may point to exhaustion. It is not a guarantee of a turn, though. XRP trades near $1.03, down about 33% from roughly $1.55 in early October. Whale buying has reportedly absorbed some supply that might otherwise have added to the decline.
How the double bottom would form
The first bottom is forming around $1.00-$1.05. If buyers defend the area, XRP could bounce toward $1.20-$1.25. That move alone would not complete the pattern. The asset would still need to pull back and test the same support again. A second defense without a decisive breakdown could set the second bottom. After that, buyers would need to push above the neckline. EGRAG identified $1.385 as the first major upside target after confirmation. A break there could bring $1.51 into view, with $2.00 as the larger target if momentum holds.
Confirmation remains the key
The signs of stabilization are there, perhaps, but they are not enough on their own. A second test of support does not confirm a double bottom. Buyers must push XRP above the neckline to show they have gained control. Until then, the $1.00-$1.05 zone remains the level to watch. A clear break below it would weaken the setup, while a strong move through resistance would give the $2 target more weight.
