Despite a promising partnership announcement between Ripple and Chainlink to launch a new stablecoin, Ripple USD (RLUSD), both XRP and LINK tokens have faced significant declines. The collaboration aims to enhance cross-border payment solutions using Chainlink's reliable price data, but this has not shielded the tokens from the broader market correction. LINK, in particular, has plummeted by over 11%, reflecting the volatile nature of the cryptocurrency market. This decline comes amid a general downturn affecting many cryptocurrencies, highlighting the challenges even promising projects face in maintaining momentum.
Chainlink's LINK token is currently priced at $20.74, down 3.09% from its previous close of $21.40, and has seen a similar percentage drop from its opening price today.