XRP and Chainlink Rebound on the Horizon Amidst Decline

XRP and LINK have declined about 40% this year, underperforming Bitcoin and Ethereum as fears of interest rate hikes drove investors away from smaller altcoins.

XRP is primarily used as a bridge currency for fiat transactions, achieving faster and cheaper cross-border transfers than conventional SWIFT transactions. However, unlike many other cryptocurrencies, XRP can't be natively staked to earn interest-like rewards.

LINK issues tokens to pay its independent node operators who collect data from external sources and feed it to developer-powered blockchains like Ethereum.