Ripple Partners with Jeel to Accelerate Blockchain Revolution in Saudi Arabia
- Strategic Partnership: Ripple's collaboration with Saudi fintech firm Jeel marks a significant step in integrating blockchain solutions within Saudi Arabia's financial infrastructure, aiming to enhance cross-border payments, digital asset custody, and tokenization applications, thereby transforming financial transactions in the Kingdom.
- Market Expansion: As Jeel operates as a fintech subsidiary of Riyad Bank, this partnership connects Ripple's blockchain technology with traditional banking infrastructure, aligning with Saudi Arabia's Vision 2030 to promote technological innovation and economic diversification.
- Technical Implementation: Ripple's enterprise blockchain solutions are expected to enhance the efficiency of both domestic and international financial operations in Saudi Arabia, with potential exploration of central bank digital currency applications, further solidifying the Kingdom's position as a fintech hub in the Middle East.
- Potential Benefits: This partnership is set to improve cross-border payment efficiency, attract new investment categories, and accelerate the development of blockchain knowledge locally, driving modernization and digital financial inclusion within Saudi Arabia's financial ecosystem.
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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 8 technical signals, shows that 4 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 crypto.
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 | -0.0221 | 0.00186 | 0.0181 | 0.0421 | 0.0583 | 0.0823 | 0.0985 |
| Fibonacci | 0.00186 | 0.0172 | 0.0267 | 0.0421 | 0.0574 | 0.0669 | 0.0823 |
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