The Ipuwer Papyrus refers to events of the 2nd IP, The Exodus.
I looked at 4 references under Ipuwer, and they all speak of Ipuwer’s writings as being centuries before the papyrus that was found. The papyrus was found around the time of the 2nd IP which was also before the time of Exodus. I am sure Egypt has had more than one emergency that turned the river red with dust or algae (phisteria) that was toxic to man and animals.
http://www.ancientpages.com/2017/08/07/ipuwer-papyrus-report-ancient-catastrophe/
Below is an interesting evaluation of the 1st IP as a period of cultural change when wealth and material goods became more commonly available. Ipuwer is evaluated as someone lamenting the fact that the kings, etc. had less absolute power and therefore order than during the IP. Also that he wrote decades after this period in a state of nostalgia. There are almost no written records of that period. Some of the dates give in this article seem a little earlier than dates I have seen elsewhere for the same events. Personally, I think some bad stuff really did happen, but did not last for many decades at a time.
https://www.ancient.eu/First_Intermediate_Period_of_Egypt/