Surge in Xaman User Activity Suggests Renewed Interest in XRP and Anticipation for RLUSD Stablecoin Launch

• The recent surge in user engagement on Xaman highlights the XRP ecosystem’s resilience and the excitement surrounding the anticipated RLUSD stablecoin launch.

• This notable increase has positioned Xaman as a leading self-custodial wallet within the XRPL space, showcasing its vital role in the ecosystem.

• Robert Kiuru, Xaman’s COO, emphasized that “almost every XRPL project integrates with Xaman,” indicating the wallet’s pivotal connections within the industry.

Xaman’s user activity has skyrocketed by 250% amid the XRP rally, driven by the upcoming RLUSD launch, reinforcing its role in the XRPL ecosystem.

80,000 New Users Join Xaman Amid XRP Rally

As of December 2023, Xaman has reported over 212,000 active weekly users, marking a significant rebound from previous months. This surge includes approximately 80,000 new sign-ups, coinciding with XRP’s brief resurgence as the third-largest cryptocurrency by market cap.

According to Kiuru, “This growth reflects a renewed interest in XRP volatility and RLUSD launch,” which has played a pivotal role in attracting users back to the platform. The influx of users not only demonstrates confidence in XRP’s market movements but also a growing demand for Xaman’s services, with 90% of the new activity being directly attributed to XRP’s price fluctuations.

Xaman Leverages XRPL Fork for Smart Contracts

Rebranded from Xumm in May 2023, Xaman introduces innovative functionalities such as supporting on-ramps and off-ramps through platforms like Uphold’s Topper. Additionally, while the XRPL itself traditionally lacks support for smart contracts, Xaman utilizes the Xahau Network. This fork of the XRPL allows the implementation of smart contract capabilities.

Kiuru explained, “Smart contracts on Xahau use Hooks, developed by XRPL Labs,” making them lightweight and user-friendly. This innovative aspect positions Xaman as a vital tool for developers looking to integrate advanced functionalities into their projects while highlighting user-centric features that enhance transaction security and ease.

Xaman Secured Indirect Investment from Ripple in 2019 and 2020

Backed by Ripple’s investment arm, then known as Xpring, Xaman received funding that has contributed significantly to its development and ecosystem integration. Kiuru mentioned, “It was one of the first grantees from Ripple when it was funded by Xpring,” emphasizing the wallet’s early endorsement within the crypto space.

Originally developed by notable Ripple engineer Wietse Wind, Xaman (formerly Xumm) has evolved beyond its beginnings, expanding its offerings to meet the growing demands of the XRPL community. Wind is also recognized for creating various applications that enhance XRP’s usability, including XRParrot and XRPTipBot.

Impact of RLUSD Launch on Market Dynamics

The upcoming release of the Ripple USD (RLUSD) stablecoin is poised to impact both Xaman and the broader XRP ecosystem significantly. Analysts suggest that the introduction of RLUSD will likely increase demand for XRP as users seek stablecoin alternatives tied directly to Ripple’s efficient ledger technology.

Recent conversations in the crypto community suggest that the transition to this new stablecoin may facilitate more transactions within the XRPL ecosystem and attract a broader audience interested in decentralized finance (DeFi) applications.

Conclusion

The notable surge in user activity on Xaman amidst the XRP rally is a testament to the growing confidence in the XRPL ecosystem and its innovations. With the impending launch of RLUSD and the continuous development of Xaman’s features, the platform is set to play an increasingly integral role in shaping the future of cryptocurrency transactions and broader market dynamics.