- Conor McGregor questions XRP, Solana, Cardano decentralization for US digital asset reserve.
- Debate on altcoin decentralization renewed by McGregor’s inquiry, XRP advocates respond.
- XRP price trades at $2.30, testing key Fibonacci support at $2.14 amid bearish BoP.
UFC icon Conor McGregor has waded into the crypto decentralization debate, specifically questioning whether XRP, Solana (SOL), and Cardano (ADA) are suited for inclusion in the US government digital asset reserve.
In a post on X, McGregor asked, “I have learned from the events this week that not all blockchains are actually decentralised… But the US government are going to buy XRP, SOL, and ADA?”
McGregor Expands Crypto Focus Beyond Bitcoin, Eyes National Strategies
McGregor, who has previously supported the idea of a Strategic Bitcoin Reserve, now appears to be broadening his crypto horizons. His comments come as US states like Texas and New Hampshire actively explore crypto reserves and strategic holdings beyond just Bitcoin.
Reports also suggest the fighter is even setting up a meeting with El Salvador’s President Nayib Bukele to discuss similar strategies for Ireland. Interestingly, the sudden shoutout to XRP has revived debate about its decentralization status. While McGregor was told only Bitcoin and Ethereum qualify as truly decentralized, XRP supporters were quick to respond.
Notable figures like Panos Mekras of Anodos Finance and XRPL validator Vet pushed back, citing recent upgrades to the XRP Ledger that enhance decentralization and utility.
Dom Kwok of EasyA added nuance by emphasizing that Bitcoin is primarily a store of value, whereas XRP, Ethereum, and Solana drive real-world applications. “That’s why the US is interested,” he noted.
XRP Price Action: At $2.30, $2.14 Support Is Critical, BoP Signals Bears
Turning to market specifics, XRP is trading at $2.30, hovering just above the 0.236 Fibonacci level at $2.14, a key short-term support zone. If this support breaks, the next downside target sits at the $2 base level, with risk of further slide toward $1.88, a previous consolidation point.
However, should bullish momentum return, XRP faces resistance at $2.38 (0.382 Fib) and $2.61 (0.5 Fib). A clean breakout above $2.85 (0.786 Fib) would target the 1.618 Fib extension at $3.21, with medium-term upside potential to $3.79 and even $4.72, as marked on the Auto Fib Extension tool.
The Balance of Power (BoP) indicator currently sits at -0.17, revealing bearish dominance and suggesting that bulls lack strength to reclaim higher levels in the short term.
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