Bitcoin price – XRP price prints a brand new low towards Bitcoin whereas Ripple information trademark for brand spanking new funds product

• Ripple has filed a patent for a product known as PayString which is able to facilitate the transfers of digital currencies.
• XRP price continues struggling important blows towards BTC, as the large hits new highs.

Evidently Ripple Labs has filed a brand new U.S. patent final week categorized as ‘Advertising and Business’ and ‘Insurance and Financial’ named PayString. The submitting states that the product could be used for a number of financial companies associated to fiat and digital currencies. 

XRP has been in a large downtrend towards Bitcoin since August 4, dropping greater than 44% of its value in comparison with BTC. Previously 24 hours, the pair hit 0.00001556, the bottom stage since December 2017. 

XRP price can’t appear to recuperate regardless of the excellent news

Though the complete crypto market is bullish and Ripple continues asserting optimistic occasions for XRP, the digital asset stays weak. A low within the XRP/BTC pair not seen since 2017 confirms it. After a big bounce on November 6, it appeared that XRP price was recovering a bit towards Bitcoin. Nevertheless, the pair took one other beating on November 12, ultimately posting a two-year low. 

XRP/BTC every day chart

On the weekly chart, there’s a related image, however worse. For the reason that peak in January 2018, XRP is down by 93% towards Bitcoin. The digital asset has tried to recuperate a number of instances however stays in a large downtrend. 

XRP/BTC weekly chart

XRP price has fashioned a descending wedge and it’s at present proper above the decrease trendline. A breakdown from this level might have a devastating impact on the XRP/BTC pair probably driving it to 0.00001400.