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.

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.

Conor McGregor, UFC icon, has joined the crypto decentralization discussion, specifically questioning if XRP, Solana (SOL), and Cardano (ADA) would be included 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?”

I have learned from the events this week that not all blockchains are actually decentralisedA lot of people are telling me BTC and ETH are the only truly decentralised networksBut the US government are going to buy XRP, SOL, and ADA?Give me your thoughts! pic.twitter.com/KMjVCSujqO

— Conor McGregor (@McgregorNews) August 25, 2024

McGregor Expands Crypto Focus Beyond Bitcoin, Eyes National Strategies

McGregor, a known supporter of a Strategic Bitcoin Reserve, appears to be expanding his crypto knowledge. His comments come as US states like Texas and New Hampshire are actively exploring crypto reserves and strategic holdings beyond Bitcoin.

Reports also suggest the fighter is setting up a meeting with El Salvador’s President Nayib Bukele to discuss similar strategies for Ireland.

Interestingly, the sudden shoutout to XRP has brought back discussion about its decentralization status. While some told McGregor that only Bitcoin and Ethereum qualify as truly decentralized, XRP supporters quickly responded.

Panos Mekras of Anodos Finance and XRPL validator ‘Vet’ highlighted recent upgrades to the XRP Ledger that enhance decentralization and utility. Dom Kwok of EasyA added that Bitcoin is mainly a store of value, while XRP, Ethereum, and Solana are focused on real-world applications. “That’s why the US is interested,” Kwok stated.

XRP Price Action: At $2.30, $2.14 Support Is Critical, BoP Signals Bears

In market action, XRP is trading at $2.30, slightly above the 0.236 Fibonacci level at $2.14, a key short-term support zone.

If this support breaks, the next downside target is 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 stands at -0.17, revealing bearish dominance and suggesting that bulls lack strength to reclaim higher levels in the short term.