XRP could form a double-bottom pattern in the $1.00 to $1.05 range. If it holds that support and breaks above neckline resistance, the price could recover to $2, an analysis shows.

The Crypto Basic reported on Nov. 12 that XRP fell 16 percent in October 2026. It was the fourth-weakest October performance in the past decade or so. The price has since dropped to a range where the first low of a double bottom could form.

Analyst EGRAG pointed to $1.00 to $1.05 on XRP’s daily chart as a level to watch. The range overlaps with a fair value gap (FVG), where sharp price swings leave an imbalance on the chart. The market tends to revisit such gaps to fill part or all of them. EGRAG said a reversal could be supported even if XRP fills only 50 percent of the gap.

Coindesk Analytics also said XRP defended the $1.00 to $1.05 support zone. Still, XRP’s short-term price action remains below resistance. Repeated defenses of the area show buyers see it as an important level, but holding support does not necessarily mean an immediate rebound.

EGRAG also focused on the recent shrinking bodies of XRP’s daily candles. With selling pressure continuing, smaller candle bodies could signal sellers are losing strength, EGRAG said. A “seller exhaustion” phase could emerge, in which sellers can no longer push prices down as forcefully as before. Still, that may only offer buyers a chance to regain control and does not guarantee an immediate reversal.

XRP is trading around $1.03. That is about 33 percent below roughly $1.55 in early October. Heavy investors were reported to have absorbed some supply during the sharp drop, easing additional selling pressure.

EGRAG’s double-bottom scenario unfolds in three main stages. First, the initial low forms in the $1.00 to $1.05 range, and if buying demand defends it, the price could rebound to $1.20 to $1.25. If XRP then retests $1.00 to $1.05 and holds without a decisive breakdown, a second low would form.

The final step to complete the pattern is a break above neckline resistance. EGRAG set $1.385 as the first upside target after the double bottom is confirmed. If the price rises above that, $1.51 is cited as the next target, and the analysis said XRP could ultimately climb to $2 if buying momentum holds.

EGRAG stressed that the pattern should not be seen as a bullish signal before the double bottom is confirmed. A second test of support alone is not enough, EGRAG said. XRP must break above neckline resistance to confirm buyers have gained control of the market.