To calculate the price of $XRP when the price of $BTC is at 96000, the correlation between the percentage changes of both currencies can be used.
Steps:
1. Calculate the relationship between the percentage changes of BTC and XRP:
When BTC changes by 2.52%, XRP increases by 19.98%.
When BTC changes by 2.71%, XRP increases by 20.21%.
When BTC changes by 2.75%, XRP decreases by 20.08%.
It can be seen that the price of XRP reacts more to the changes of BTC, but not quite linearly.
2. Calculate the change of BTC to 96000:
The new price of BTC is 96000.
Percentage of change:
\text{Percentage of change in BTC} = \left( \frac{96000 - 97824.98}{97824.98} \right) \times 100 \approx -1.87\%
3. Estimate the change of XRP: Based on the previous changes, when BTC drops by 1.87%, XRP is expected to be affected as well. Using the average impact of the previous change (~7.5 times the impact of the BTC change):
\text{Expected XRP change} = -1.87\% \times 7.5 \approx -14\%
4. Expected XRP price: If the current price of XRP is 1.7293, the new price is:
\text{Expected price} = 1.7293 \times (1 - 0.14) \approx 1.487
Prediction:
The price of XRP could be $1.49 if the price of BTC drops to 96,000, assuming the relationship between them is stable.
