Ripple-Chainlink Stablecoin Partnership XRP and LINK will not stop sinking.

US fintech company Ripple and blockchain oracle provider Chainlink have partnered to accelerate the adoption of cross-border payments stablecoin Ripple USD.

“Ripple has accepted Chainlink's request for the most reliable and trustworthy pricing information around the recently launched Ripple USD (RLUSD) stablecoin,” Chainlink announced on January 7.

Ripple describes the new stablecoin as an “enterprise-level, USD-denominated stablecoin built on trust, utility and fundamentals.

Another stablecoin enters a crowded market.

ChainLink's price oracle feeds RLUSD with real-time price information on Ethereum, allowing DeFi applications to integrate the stable for trading, lending and other services.

RLUSD is issued on the XRP Ledger and Ethereum blockchains, making it natively compatible with smart contract applications and DeFi.

.@Ripple has accepted the Chainlink requirement for the most secure and reliable price information around the recently launched Ripple USD (RLUSD) stablecoin.

Learn how Chainlink's price feeds are set to accelerate RLUSD adoption across the DeFi ecosystem:

— Chainlink (@chainlink) January 7, 2025

Johan Eide, Chief Business Officer at Chainlink Labs, said, “Adoption of tokenized assets like stastacoins will continue to accelerate in the coming years, and access to critical information on-chain will accelerate the process.

“We will further strengthen the RLUSD service for both institutional and decentralized applications by leveraging the ChainLink standard to bring trusted data on-chain,” added Jack MacDonald, Ripple's SVP.

RLUSD is entering a crowded stable coin market. Tether-dominated, which is a 65% market share.

According to CoinGecko, according to CoinGecko, which lists 232 stablecoins or token derivatives, the total stablecoin market capitalization, representing around 6%, is at a record high of around $212 billion.

XRP and LINK slide

The announcement did nothing for the pair of tokens, which hit a broader market decline on Tuesday.

Ripple's XRP fell 6.4% on the day, from $2.45 to $2.28 at the time of writing. However, the cross-border token is still up 6.6% in the past week and has gained a whopping 340% in the past three months.

XRP remains at a 34% drop from its seven-year high of $3.40 this week.

Chainlink LINK took a big 11.7% hit as altcoins fell in the market correction, falling from $23.50 to $20.5 at the time of writing. LINK hit a three-year high of $30 in mid-December but has not been able to get back there and is down 59% from its May 2021 all-time high of $52.70.