Chainlink ($LINK) Surges 8% as Its Cross-Chain Interoperability Protocol (CCIP) Integrates with Hedera

Chainlink ($LINK) has seen a notable 8% increase in value recently, bouncing back from near-2022 lows despite the broader cryptocurrency market showing weakness.

Chainlink (CRYPTO: LINK) has seen a notable 8% increase in value recently, bouncing back from near-2024 lows.

Chainlink’s CCIP introduce on Hedera

On April 8, Chainlink declared that its Cross-Chain Interoperability Protocol (CCIP) had gone live on Hedera (CRYPTO: HBAR) mainnet.

This integration will allow developers on the Hedera blockchain to build secure cross-chain applications and transfer tokens without the need for external bridges, marking a significant step in Chainlink’s growth.

CCIP enables seamless communication and token transfers between different blockchains, and the introduction on Hedera expands the utility of the protocol within the ecosystem. This marks another milestone in Chainlink’s journey toward becoming the standard for cross-chain interoperability, which is crucial for DeFi (decentralized finance) and beyond.

Growing Institutional Support

In addition to the technical integration, Chainlink is also gaining traction in traditional finance. On April 3, PayPal (NASDAQ:PYPL) announced that it would enable users in the U.S. to buy, sell, hold, and transfer Chainlink ($LINK) directly on its platform, eliminating the need for third-party services like MoonPay. This move opens the door for mainstream adoption of Chainlink by retail users.

Moreover, Ripple (CRYPTO: XRP) made waves earlier this year by adopting Chainlink’s CCIP standard to bring pricing data for its RLUSD stablecoin onto the blockchain. This move highlighted Chainlink’s growing influence within institutional-grade systems, further bolstering its reputation in the crypto space.

As of early April, Chainlink’s cross-chain transaction volume had surpassed $33 billion, and the total cumulative transfer volume across blockchains had more than doubled since December 2024, reaching $2 billion as of April 6.

Chainlink’s Price Analysis: Will $LINK Hold $11?

As of Monday morning, Chainlink’s price had risen by 7.56%, trading at $11.80. The cryptocurrency recently bounced from a crucial demand zone between $10.20 and $11.34, which had served as an accumulation base during the third quarter of 2024.

Chart: TradingView

Crucially, holding above the $11 support level will be essential for any potential price reversal in the coming months.

On the other hand, $LINK faces resistance at the $15.46 level, which was previously a support level but has now become a ceiling. If Chainlink can break above this trendline, it could signal bullish momentum, with $18.50-$20.00 remaining a significant supply zone with historically substantial selling pressure.

The Relative Strength Index (RSI) for $LINK is currently at 41.34, still below neutral territory but showing signs of recovery from oversold conditions. This suggests that there could be a short-term bounce, though bearish momentum still lingers.