XRP Formed a Double Bottom Near $1 This Summer: Will It Hold or Break Down?

XRP (CRYPTO: XRP) formed a double-bottom pattern near the $1 mark this summer. It dipped to about $1.01 on June 26, 2026, then closed around $1.03 on August 6, before buyers stepped in. After this point, the crypto surged nearly 46%, reaching $1.53 by late September.

However, XRP has since retraced some of those gains. As of October 10, it was trading around $1.41, down about 5% for the week and around 61% below its all-time high of $3.65.

So, the pressing question is: Is the XRP double bottom still intact, or are we headed back toward the summer lows?

What Is a Double Bottom Pattern, and When Is It Confirmed?

A double bottom is a chart pattern that looks like the letter “W.” In this pattern, the price drops to a certain level, bounces back, dips again to a similar level, and then holds steady at that low. Traders see this second hold as a signal that buyers are showing support, having returned to the same price point twice.

This pattern is confirmed when price closes above the highest point between the two lows, known as the neckline. Traders also often look for lower trading volume on the second low, which suggests sellers are losing their grip.

How XRP’s Two Lows Near $1 Set Up the Summer Rally

XRP’s price movements align well with this pattern. After the June 26 low, the coin traded between $1 and about $1.18 throughout July, eventually dropping to its lowest daily close of the year, around $1.03, on August 6. Buyers defended the $1 level on both occasions.

Subsequently, XRP closed above the $1.18 to $1.20 range that had limited its movements in July, confirming the double-bottom pattern. A common technique is to add the pattern’s depth—about 18 cents—to the neckline, suggesting a potential target around $1.37. XRP even surpassed this target, reaching $1.70 on August 22.

Can XRP Hold the $1.20 Neckline if the Pullback Continues?

Although a confirmed double bottom typically signals bullish sentiment, XRP has pulled back about 17% from its August 22 high of $1.70. Traders are now watching the $1.17 to $1.20 zone—about 15% to 17% below the October 10 price—where the previous neckline intersects a 78.6% retracement of XRP’s rise from $0.50 to $3.65.

A pullback to a broken neckline, known as a retest, is not uncommon. If buyers re-enter at this level, the pattern remains valid. On the other hand, a close below about $1.17 could weaken the breakout and bring the summer lows near $1—about 29% lower than the October 10 price—back into focus. Additionally, a surge in forced selling from leveraged traders could breach any established support levels, regardless of the pattern.

Is the XRP Double Bottom Holding or Breaking Down?

As it stands, the XRP double bottom is still holding strong. It is trading roughly 18% above its $1.20 neckline and around 37% above its August low, suggesting that the recent 5% weekly decline is a typical pullback rather than a breakdown. For XRP holders, a retest of the $1.17 to $1.20 zone could still represent a significant drop of about 15% from the October 10 price.

However, a daily close below approximately $1.17 would likely weaken the double bottom pattern, signaling a potential return to the $1 mark. Conversely, if XRP rises above $1.50—about 6% higher—it may continue the rally that began with the double bottom, with the September 23 high of $1.66 as the next target.

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