1. A method of managing X2 links in a wireless communication network, the method comprising: computing a set of configuration parameters associated with at least one Neighboring Base Station (NBS) using measurement reports received from a plurality of User Equipment (UEs) communicating with the at least one NBS; determining feasibility of setting up at least one X2 link between a Serving Base Station (SBS) and the at least one NBS based on at least one configuration parameter in response to receiving an X2 link set up request; creating, in response to determining the feasibility, the at least one X2 link by performing one of activation of an X2 link and initiation of setup of an X2 link for each of the at least one X2 link based on a current status of each of the at least one X2 link, wherein a current status of an X2 link comprises one of a new link setup requirement and activation of an already established X2 link for one of the at least one NBS; determining a current usage of each of the at least one X2 link created between the SBS and one of the at least one NBS; predicting a future usage of each of the at least one X2 link based on UE measurement reports received from the plurality of UEs and at least one configuration parameter; and consolidating the at least one of X2 links based on associated current usage and associated predicted future usage.