ADA and XRP Plummet Amidst Intense Whale Selling

The cryptocurrency market is experiencing a downward trend this Sunday afternoon, impacting popular altcoins like ADA and XRP. Both assets have seen significant declines, mirroring a pattern observed earlier in the week. This drop can be attributed to a sell-off by large investors known as whales. Data from Ali Martinez suggests that Cardano whales recently offloaded over 440 million ADA tokens over the past month, contributing to increased selling pressure on the asset. This has resulted in a drop of over 23% for ADA in just one month and a substantial decline of 17% since last Sunday.