$XRP whales have made significant purchases, can the market break through?

In April, XRP whales bought approximately 900 million tokens, seemingly a strong bullish signal, but there are hidden implications behind it. Analyst Ali Martinez pointed out that despite frequent whale activity, a transfer worth $68.7 million might suggest selling pressure, which could weigh on prices.

Additionally, XRP has faced dual pressures from the SEC's delay in ETF approval and a surge in short positions, with prices not breaking through $2.30, causing market sentiment to waver. The surge in short positions has also complicated bullish sentiment.

📉 Technical Analysis:

$2.20 is a key support level, and the slowing demand from whales and reduced capital flow may bring downward pressure.

Overall, despite significant whale entries, the price trend remains full of uncertainties, with the market oscillating between bullish and bearish. Do you think a breakthrough is imminent or will it continue to be under pressure?

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