XRP whales are making large purchases, but will the market rise or fall?

In April, XRP whales bought about 900 million tokens, which seems to be a strong bullish signal, but there are hidden complexities behind it. Cryptocurrency analyst Ali Martinez pointed out that despite the high activity of whales, a recent transfer worth $68.7 million suggests potential selling pressure that could weigh on the price.

Moreover, despite XRP facing dual pressure from the SEC's delay in ETF approval and a surge in short positions, the price has failed to break through $2.30, and market sentiment has begun to appear somewhat hesitant. In particular, the surge in short positions has complicated the bullish sentiment.

From a technical perspective, XRP is facing a key support challenge at $2.20, and the demand from whales is also starting to slow. Although large buy orders had previously driven the price up, if the speed of capital flow slows down, it may significantly impact XRP's future trend.

Overall, despite the exciting entrance of whales in April, the current price trend and market sentiment remain full of uncertainties. The market is wavering between bullish and bearish. What do you think, will there still be a breakthrough?

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