🚨XRP whale is buying heavily, will it be able to break through in the market?
In April, the whale purchased about 9 billion tokens of XRP, which seems to be a strong signal for the upside, but there are hidden secrets behind that. Analyst Ali Martinez pointed out that despite the frequent activity of whales, a transfer worth 68.7 million dollars could indicate selling pressure, negatively affecting prices.
Moreover, XRP has not been able to surpass 2.30 dollars amid the dual pressure from the SEC delaying the ETF approval and increasing short positions, and market sentiments have begun to fluctuate. The increase in short positions has complicated bullish sentiments.
📉 Technical Analysis:
2.20 dollars is the main support level, whale demand is declining, and a slowdown in money flow could lead to downward pressure.
Overall, despite the whale entering heavily, the price trend is still filled with volatility, and the market swings between bullish and bearish. Do you think a breakout is imminent or will the pressures continue?