XRP Tests Key Fair Value Gap as Analysts Watch for Double-Bottom Confirmation

French crypto analyst Egrag Crypto has drawn attention to an XRP Fair Value Gap (FVG) between $1 and $1.05. With that zone now being tested, shrinking candles suggest seller exhaustion. If the area holds as support, the analyst sees a possible path toward $1.25.

Double-Bottom Pattern Reappears in This XRP Range

Egrag notes that trading behavior in this XRP price region has historically been bullish because of a double-bottom formation. Previously, the altcoin bounced from the $1.08 to $1.10 bottom, showing the same pattern around the FVG range, supported by classic Elliott Wave theory.

The chart included in the post shows classic Elliott Wave elements:

• “Simple Corrections” labeled with Flat (A-B-C) and Zigzag (A-B-C) patterns
• Numbered impulse and corrective waves (1-2-3-4-5 and A-B-C structures)
• Fibonacci relationships and wave degree labeling for XRP’s price.

360 Trader, another experienced chart analyst, also described the zone slightly above $1 as a “great place to consider accumulation.” Like Egrag, however, the analyst cautioned about the leveraged market setup and adjusted positioning for spot markets only.

Ultra-Low RSI Reading Highlights Underlying Potential

The daily Relative Strength Index (RSI) has fallen to a critically low 22, pointing to heavily oversold conditions. Whether that translates into buying momentum will depend on crypto whales accumulating the altcoin around $1.10, the next confluence of resistance.

Despite the setup, both traders emphasized caution, saying XRP must still prove that a bottom is in before accumulation becomes compelling. At present, large holders—commonly known as whales—are not convinced, based on TradingView data across multiple XRP timeframes.

With the Chaikin Money Flow (CMF) falling below zero across all time windows and XRP’s Bull Bear Power (BBP) metric remaining bearish, short sellers appear to have taken control. Ali Martinez argues that if bears push XRP below the $0.99 support area, a broader freefall could follow.

While Bitcoin (BTC) has just dropped below $69,000, XRP is trading around $1, hovering just above a psychologically important threshold. As the Crypto Fear & Greed Index falls into very fearful territory below 23, XRP’s long-time supporters are waiting for an improvement in retail sentiment.

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