Ripple Partners with Riyad Bank to Drive Blockchain Innovation in Saudi Arabia
- Strategic Partnership: Ripple has partnered with Jeel, the innovation arm of Riyad Bank, to explore blockchain solutions aligned with Saudi Arabia's Vision 2030, reflecting Ripple's ambition and long-term vision in the Middle East market.
- Cross-Border Payment Innovation: By leveraging blockchain technology, Ripple can significantly reduce settlement times, enhance transparency, and improve liquidity efficiency, providing Saudi institutions with faster and more cost-effective international transaction capabilities, thereby strengthening their connectivity to global financial markets.
- Digital Asset Custody: Ripple and Jeel are focusing on the secure management of digital assets, utilizing Ripple's infrastructure to help Riyad Bank safely store and manage tokenized assets, laying the groundwork for broader adoption and institutional confidence.
- Tokenization as a Growth Catalyst: By converting traditional assets into digital tokens, Ripple and Jeel aim to increase efficiency, accessibility, and liquidity in financial markets, closely aligning with Saudi Arabia's goals of economic diversification and financial innovation.
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Technical Analysis for BANK
Technical Sentiment Analysis for Lorenzo Protocol (BANK) As of , Lorenzo Protocol (BANK) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 9 technical signals, shows that 5 indicators are flashing buy, while 4 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BANK stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BANK is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Lorenzo Protocol (BANK) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00382 | 0.0169 | 0.0278 | 0.0409 | 0.0518 | 0.0649 | 0.0758 |
| Fibonacci | 0.0169 | 0.026 | 0.0317 | 0.0409 | 0.05 | 0.0557 | 0.0649 |
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