Xaman Wallet sees 250% rise in activity

Xaman Wallet has experienced a significant surge in user activity, driven by renewed interest in the XRP (CRYPTO:XRP) ecosystem and the upcoming Ripple USD (CRYPTO:RLUSD) stablecoin launch.

The self-custodial wallet, which is built for the XRP Ledger (XRPL), has seen a 250% increase in active weekly users since the summer.

Last week, the wallet topped 212,000 active users, according to Xaman’s chief operating officer, Robert Kiuru.

The surge in activity aligns with the ongoing XRP rally and growing anticipation for the RLUSD stablecoin.

As of December 2023, Xaman had around 80,000 active users, but this number dipped to 60,000 during the summer months.

However, following XRP's brief return to the position of the third-largest cryptocurrency by market capitalisation on Dec. 2, Xaman experienced a significant spike, attracting 80,000 new users and many returning ones.

“This growth reflects a renewed interest in XRP volatility and RLUSD launch,” noted Kiuru, attributing the increase in users primarily to XRP’s price movements.

He further stated that 90% of the active user base spike can be attributed to XRP’s price performance.

Xaman, which rebranded from Xumm in May 2023, operates on the Xahau Network, a fork of the XRPL that enables smart contract functionality.

While the XRPL does not support smart contracts, Xaman utilises the Xahau Network’s Hooks, developed by XRPL Labs, to offer lightweight functionalities for developers and users.

Xaman's development and growth have been supported by Ripple’s investment arm, Ripplex, which invested in XRPL Labs, helping to fund Xaman’s creation.

Wietse Wind, a prominent Ripple developer, originally created the wallet, along with other XRP-related applications.

At the time of reporting, the price of XRP (XRP) was $2.48.