XRP News Today: Chainlink Surges 12% on CCIP Deployment and Institutional Backing

Chainlink (LINK) has seen notable performance on August 8, rising 12% in the past 24 hours to reach $19.32 [1]. This gain is attributed to the recent deployment of its Cross-Chain Interoperability Protocol (CCIP) on Solana, a move that enhances cross-chain communication and connects to more than $18 billion in on-chain assets [2]. Institutional backing, including partnerships with JPMorgan and SWIFT, has also contributed to the positive momentum [2]. However, lingering concerns persist due to a previous oracle malfunction in May, which led to over $532,000 in losses for users [2]. Despite this, trust in the network is growing, particularly with Coinbase integrating Chainlink’s Proof of Reserve for its cbBTC holdings [2]. Analysts predict that as long as LINK remains above $14, it could rise toward $18–$19. A drop below this support level could lead to further declines toward $13.22 [2].

XRP experienced a 8% surge on August 8, with trading volume spiking by 260% to $10 billion [3]. Technical indicators suggest a potential trading range of $0.41 to $0.50, with stronger demand possibly pushing the price toward $0.80 [1]. The rally has been fueled by the resolution of the Ripple vs. SEC legal case, which has drawn attention to XRP as a potential all-time high candidate, with forecasts suggesting a possible move to $4.78 by the end of the month [4]. Currently, XRP has pulled back 2.85% from its recent high of $3.32, setting up a short-term range between $3.39 and $3.21 [5]. The altcoin’s performance is being closely monitored in the context of Bitcoin’s declining dominance to 59.95%, a trend often associated with increased altcoin activity [3].

Stellar (XLM) is showing bullish signs, with the price maintaining key support near $0.20 and building upward momentum [6]. Analysts are optimistic about a potential breakout to $1 should the trend continue [1]. The token recently broke out of a prolonged downtrend, signaling renewed interest from investors [1]. Improved technical indicators and increased on-chain activity are supporting this upward trajectory. If the current momentum holds, XLM could see a significant price correction toward its long-term upside targets [6].

The broader crypto market appears to be in a favorable phase for altcoin growth, with Ethereum (ETH) reaching $4,000 and XRP, XLM, and LINK among the top performers [7]. Institutional interest and improved market sentiment are contributing to this environment. However, short-term risks remain, including macroeconomic factors such as the upcoming U.S. Core PCE data and potential Federal Reserve rate decisions, which could impact liquidity and investor behavior [2].

Source:

[1] title1.............................(https://www.tradingview.com/news/cryptonews:a83f06fb1094b:0-crypto-price-prediction-today-8-august-xrp-stellar-chainlink/)

[2] title2.............................(https://cryptoweekly.co/news/chainlink-price-prediction-link/)

[3] title3.............................(https://www.cryptotimes.io/2025/08/08/crypto-price-today-august-8-bitcoin-remains-steady-while-altcoins-rally/)

[4] title4.............................(https://www.ccn.com/analysis/crypto/ripple-sec-xrp-all-time-high/)

[5] title5.............................(https://cryptonews.com/news/chatgpts-xrp-analysis-reveals-historic-victory-rally-at-3-23-as-sec-case-officially-ends-after-5-year-battle/)

[6] title6.............................(https://blockonomi.com/stellar-eyes-1-as-xlm-price-holds-key-support-and-momentum-builds/)

[7] title7.............................(https://www.bitcoininsider.org/article/282199/crypto-wrap-aug-8-eth-hits-4k-xrp-xlm-and-link-among-top-performers)