Xaman Self-Custodial Wallet Sees 250% Weekly User Surge Amid Renewed Interest in XRP and Anticipation of RLUSD Stablecoin Launch

Renewed interest in XRP and excitement over the upcoming Ripple USD (RLUSD) stablecoin launch have driven a significant increase in user activity for Xaman

Interest in XRP and the upcoming launch of the Ripple USD (RLUSD) stablecoin have led to a significant increase in user activity for Xaman, a self-custodial wallet for the XRP Ledger (XRPL) ecosystem.

The number of active weekly users on Xaman has surged by 250% since summer, reaching 212,000 last week, Xaman Chief Operating Officer Robert Kiuru told Cointelegraph.

The spike in user activity on Xaman is attributed to renewed interest in XRPL amid XRP’s recent rally and the community’s anticipation of the RLUSD launch.

Xaman, which was rebranded from Xumm in May 2023, received indirect investment from Ripple’s investment arm, Xpring, which was later rebranded to Ripplex in October 2020.

80,000 new users join Xaman amid XRP rally

In December 2023, Xaman had around 80,000 active weekly users, which later dropped to 60,000 users during summer 2024.

However, the recent surge in user activity on Xaman saw 80,000 new users sign up for the wallet as XRP briefly revisited the third-largest cryptocurrency position by market capitalization on Dec. 2.

Top five cryptocurrencies by market capitalization. Source: CoinGecko

“This growth is largely due to the renewed interest in XRP volatility and RLUSD launch.” Kiuru said, adding that “90% of the active user base spike is likely XRP price.”

Xaman provides a self-custodial wallet with on- and off-ramps through platforms like Uphold’s Topper.

While XRPL itself does not support smart contracts, Xaman features them on the Xahau Network, which is a separate blockchain and a fork of the XRPL, according to Xaman’s Kiuru.

“The smart contracts on Xahau are powered by XRPL Labs’ Hooks,” Kiuru noted, adding that the Hooks provide lightweight functionality designed for developers and users.

Related: RLUSD stablecoin will increase demand for XRP — Axelar co-founder

“Almost every XRPL project integrates with Xaman through ‘Sign in with Xumm,’ which provides secure and seamless transactions,” he said.

Xaman secured indirect investment from Ripple in 2019 and 2020

Ripple’s investment arm, Ripplex — then known as Xpring — supported Xaman through investment in XRPL Labs in 2019 and 2020.

“It was one of the first grantees from Ripple when it was funded by Xpring,” Kiuru said, adding that Xpring initially began investing in XRPL Labs early in 2019.

Originally known as the Xumm wallet, Xaman was created by prominent Ripple developer Wietse Wind, who is also known for releasing XRP applications like XRParrot and XRPTipBot.

Magazine: Bitcoin ‘demand shocks’ looming, Ripple stablecoin, and more: Hodler’s Digest, Dec. 8–14

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