Cardano (CRYPTO: ADA) dropped 4% while XRP (CRYPTO: XRP) held nearly flat over the past 24 hours as whale selling piles pressure onto ADA ahead of a key support test.
Why Analysts Say Cardano Faces a ‘Big Correction’
Widely-followed crypto analyst Ali Martinez posted a thread on X, warning that Cardano whales have been reducing their holdings fast, with large holders offloading more than 110 million ADA over the past five days.
That selling adds pressure right as price approaches a key support level.
Network activity backs up the concern, with daily active addresses falling 41.36% from 27,248 to 15,977, a sign that fewer people are actually using the network even as whales head for the exit.
Martinez also flagged $0.24 as the decisive level to watch. A break below that support inside Cardano’s rising channel would open the door toward the channel’s lower boundary near $0.21.
Why XRP’s Exchange Flows Look More Mixed
CryptoQuant analyst Amr Taha reported that XRP withdrawals have outpaced deposits across exchanges since late August.
Binance’s withdrawal share climbed from 52% to 54% between Aug. 26 and Oct. 12, while the share across all exchanges rose from 51% to 52.7% over the same stretch.
More withdrawals than deposits often means traders are moving coins off exchanges into long-term storage rather than gearing up to sell.
Total exchange balances, however, moved in opposite directions depending on the platform:
| Exchange | Reserve Change | Period |
| Binance | Down 101 million XRP (2.705B → 2.604B) | Sept. 27 to Oct. 13 |
| Upbit + Bithumb (South Korea) | Up roughly 90 million XRP | Similar window |
XRP is leaving Binance at roughly the same pace it’s building up on South Korean exchanges, pointing to demand rotating toward those platforms rather than disappearing from the market altogether.
Where XRP and Cardano Stand Technically
XRP trades near $1.37 after breaking below the rising trendline that had supported its triangle pattern.
Key levels for XRP:
- $1.38 to $1.40: resistance, with the 20-day EMA at $1.43 capping further upside
- $1.34: 100-day EMA, initial support
Cardano trades near $0.234, just above support where the 50-day EMA meets the 0.618 Fibonacci level.
Key levels for ADA:
- $0.230 to $0.231: current support zone
- $0.219 to $0.213: next targets if that support breaks
Photo via Shutterstock