This is isn't hypocrisy, it's more prejudice than anything else.
Because you are white, and all whites have racial superiority in the US....you have power...since you have power, you are not allowed to use certain words.
White privilege is complex and the are a wide variety of axes on which power and prejudice turn. However, we should take into consideration the social situations that provide evidence. So, for example, a person with an ethnic name is less likely to be called back for a job interview than an individual with a "normal name"; the criminal justice system sentences African-Americans to harsher sentences than whites who have committed the same crimes; police brutality rates against minorities are significantly higher than against whites; minorities have less access to higher education and are more likely to go to schools without the proper resources to educate them; the official unemployment rate is ten percent, whereas for the African-American it is fifteen percent. The list goes on. White privilege isn't something personal, it is built into the structures of our society, whether whites want it or not, and it is this context that leads me to be opposed to whites using the term. Far from prejudging whites, I am indicting a system which favors a particular group and, in our subjective experiences in the world, I think one needs to be conscious of this before saying that word.
Yes I would absolutely think that racism in the US can be furthered by any group, regardless of who is in power or what is deemed as the norm. This goes for any social divide. In no way am I saying that use of the word n*gga is the only, or most important, factor that furthers racism.
The difference between those in power and the powerless is, the former has the ability to transform those ideas into concrete reality. I can agree that all racism is bad, but that isn't the same as saying that all racism is equally destructive. So, for example, I don't think the racism of the slave is the same as the racism of the landowner, because the latter has effectively institutionalized their ideas within the governmental, economic and social framework.