Well, there are a few different clipboards in X :) The one xclip copies text into by default is "selection buffer" - usually you just select some text with your mouse and then can paste it with middle mouse button. This buffer is separate from the one from which you can paste with Ctrl-Shift-V.
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I just threw together a quick python script that will paste a clipboard image to a file.
It's very basic but it does the job but could be easily extended.
PasteImg