In the first line of chapter 17 it says:

Revelation 17:1 And there came one of the seven angels which had the seven vials, and talked with me, saying unto me, Come hither; I will shew unto thee the judgment of the great whore that sitteth upon many waters:

Yet, 14 lines later, towards the end of the chapter, it says:

Revelation 17:15 And he saith unto me, The waters which thou sawest, where the whore sitteth, are peoples, and multitudes, and nations, and tongues.

Could it possibly be that both things could be true?

That the waters, as it says in line 15, are people, multitudes, nations, and tongues?

But also, that the waters, like mentioned in line one, could be, like it says, actual waters?

Could it be a dual fulfillment?

Could one be speaking of her power and influence over people?

While the other, alluding to her unique physical situation, assisting greatly in the massive trade by sea, mentioned in chapter 18?