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Bitcoin Price – XRP Price Prints New Low Towards Bitcoin As Ripple Information Brand For Brand New Fund Product
- Ripple has filed a patent for a product known as PayString which is capable of facilitating digital currency transfers.
- The XRP price continues to take major hits towards BTC, as the greats hit new highs.
Evidently, Ripple Labs filed a brand new US patent last week classified as “Advertising and Business” and “Insurance and Finance” called PayString. The communication states that the product could be used for a number of financial companies associated with fiat and digital currencies.
XRP has been in a broad downtrend towards Bitcoin since August 4th, dropping more than 44% in its value against BTC. In the previous 24 hours, the pair hit 0.00001556, the lowest level since December 2017.
The price of XRP does not seem to recover despite the great news
While the entire cryptocurrency market is bullish and Ripple continues to hold optimistic bargains for XRP, the digital asset remains weak. A low within the XRP / BTC pair not seen since 2017 confirms this. After a big rebound on November 6, it emerged that the XRP price was recovering somewhat towards Bitcoin. However, the pair fought each other on November 12, eventually logging a two-year low.
XRP / BTC chart every day
On the weekly chart there is a related picture, however worse. For the reason of that peak in January 2018, XRP fell 93% against Bitcoin. The digital asset has tried to recover a number of cases, however it remains in a broad downtrend.
XRP / BTC weekly chart
The XRP price has shaped a descending wedge and is currently above the downtrend line. A breakdown from this level could have a devastating impact on the XRP / BTC pair, likely taking it to 0.00001400.
Bitcoin Price – XRP Price Prints New Low Towards Bitcoin As Ripple Information Brand For Brand New Fund Product
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