Originally published on: December 16, 2024
The buzz surrounding the upcoming launch of Ripple USD (RLUSD) stablecoin and the recent XRP rally have sparked a major increase in user engagement on Xaman, a popular self-custodial wallet designed for the XRP Ledger (XRPL) ecosystem.
According to Robert Kiuru, the chief operating officer of Xaman, the number of active users has skyrocketed by 250% in recent months, reaching over 212,000 active users last week. This surge in activity on Xaman is a clear indication of the renewed interest in the XRPL ecosystem driven by the ongoing XRP rally and the anticipation of the RLUSD stablecoin launch.
Formerly known as Xumm, Xaman rebranded in May 2023 and has secured investment from Ripple’s investment arm, now known as Ripplex. The wallet has seen significant growth, with only 80,000 active weekly users in December 2023, which dropped to 60,000 during the summer of 2024.
The recent spike in user activity on Xaman was fueled by the addition of 80,000 new users and a resurgence of previous users as XRP briefly reclaimed its position as the third-largest cryptocurrency by market capitalization on Dec. 2.
Kiuru attributed 90% of the user base spike to the interest in XRP volatility and the RLUSD launch. Xaman offers a self-custodial wallet that supports seamless transactions through platforms like Uphold’s Topper. Although XRPL does not support smart contracts, Xaman features them through the Xahau Network, a separate blockchain and fork of the XRPL.
Developed by prominent Ripple developer Wietse Wind, Xaman was initially known as the Xumm wallet and has since become an essential tool for the XRPL ecosystem. With the RLUSD stablecoin launch on the horizon, the engagement and activity on Xaman are expected to continue growing, making it a key player in the XRP community.
