Another way that could be used in some situations is to set the link color in the properties of the view that is taking the Spannable.
If your Spannable is going to be used in a TextView, for example, you can set the link color in the XML like this:
<TextView
android:id="@+id/myTextView"
android:layout_width="match_parent"
android:layout_height="wrap_content"
android:textColorLink="@color/your_color"
</TextView>
You can also set it in the code with:
TextView tv = (TextView) findViewById(R.id.myTextView);
tv.setLinkTextColor(your_color);