CandleFocus

LINK Reaction Remains Muted Despite Ripple’s Chainlink Integration

Author: Content Editor
The price of Chainlink (LINK) has dropped 10% in the past 24 hours, reflecting the overall downturn in the cryptocurrency market. This decline comes after Ripple announced its integration of the Chainlink Standard to support its new stablecoin, RLUSD, on the Ethereum and XRP Ledger. Despite this partnership, the news has failed to positively impact LINK's price, which has experienced a double-digit decline accompanied by a surge in trading volume. This suggests a bearish sentiment and the likelihood of further price declines. Additionally, LINK's low demand is highlighted by negative readings from its daily active address divergence, indicating reduced interest or utility for the altcoin. The current support level for LINK is at $18.53, but if the downward trend continues, it could drop further to $15.81. However, if market sentiment improves and LINK accumulation resumes, its price could surpass $22.54 and potentially reach the $30 price zone.

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