Does Rialto.AI depend on Bitcoin? Based on the correlation analysis, BTC and XRL have a very strong positive relationship. The correlation coefficient of their values is 0.91, which was measured based on the last 100-days' price dynamics of both assets.
This coefficient may adjust from -1 to 1, where -1 is the strongest negative correlation, 0 is no correlation at all and 1 is the strongest positive correlation.
The negative coefficient points that the prices of the coins are moving in the contrary trend while the positive coefficient shows that the prices are going in the same direction. For instance, if Bitcoin and Rialto.AI connection is positively strong, it means that when BTC is rising XRL will rise as well. The negative strong relation will show that when BTC is growing XRL price will be in contrary lowering.
The knowledge of the correlation coefficient helps to calculate in percentage the influence of Bitcoin over Rialto.AI. If we take all the circumstances affecting the price of XRL as 100%, then the share of BTC price among these factors will be 82.81%. The other part which is 17.19% covers all the other aspects, such as media, technological releases or crypto related laws.