- XRPL wallet infrastructure is highly centralized, with over 85% of dApp activity reliant on Xaman Wallet.
- Competing wallets fail to meet basic standards, lacking updates, marketing, and full XRPL feature support.
The XRPL ecosystem is struggling with a significant problem: wallet centralization. According to XPMarket.io CEO Dr. Artur Kirjakov, the current situation with the wallet infrastructure presents a severe threat to the network’s decentralization.
Since over 85% of all dApp transactions are based on Xaman Wallet, the ecosystem teeters on unsteady ground. If Xaman ceased operations, the XRPL dApp ecosystem could collapse entirely.
The Embarrassing State of XRPL Wallet Infrastructure
Note: This post and article does a lot of name calling and criticises current ecosystem participants, because it's time. I hope this will serve as a wake up call to all wallet providers, developers, community, and people from… pic.twitter.com/XtIauOK9iC
— Dr. Artur Kirjakulov (@Kirjakulov) March 18, 2025
In the presence of this worrying dependency, alternatives remain to be up to the task. Most wallets lack essential features such as full token support, NFT compatibility, and seamless dApp integration. Some, including Ledger, provide little more than XRPL token support, almost as an afterthought.
Others, such as GemWallet and CrossMark, suffer from poor promotion, lackluster updates, and low usage rates. Even the heavy hitter Trust Wallet has only simple XRP storage without dApp connectivity available.
In a blockchain that has been designed with applications and ecosystem growth in mind, the lack of solid wallet solutions poses a major hurdle. A functional wallet must be a secure gateway to the network, with dApp accessibility, token handling, and liquidity pools.
However, most XRPL wallets fail to meet these fundamental standards, leaving users frustrated and limiting the network’s potential.
Xaman Wallet’s Unchallenged Dominance
Xaman Wallet has emerged as the dominant force in the XRPL ecosystem, not because it has faced little competition but because other wallets failed. Xaman has succeeded because it has had continued interaction with the user base, constant updates, and leadership.
It has gained a reputation for reliability, fixing problems, and implementing new features efficiently. While the wallet recently introduced fees, competitors failed to take advantage of the opportunity, remaining inactive while users looked for alternatives.
In addition to Xaman’s strengths, the over-reliance on one wallet provider is a dangerous position for any blockchain network to be in. An optimal ecosystem calls for several good wallets competing to offer the best user experience.
Instead, most XRPL wallets stagnated, with none attracting any users or improving their services. In the face of clear opportunities to grow, wallet issuers made little effort to capitalize on them.
Some alternatives are promising but underdeveloped. Metamask has XRPL compatibility but isn’t functional on mobile, and Bifrost has multi-chain connectivity but has problems with XRPL token monitoring.
Meanwhile, newer alternatives like Girin Wallet are being added to XPMarket, but we will see if they actively market themselves or follow the same trend of inactivity.
XRPL Wallets Need More Than Just Existence
Wallet providers must work harder for the XRPL ecosystem to thrive. Having a wallet isn’t enough; wallet providers must engage with the users, advertise their services, and improve their products constantly.
Most wallets have failed because they lacked attention, with the teams not caring about building a strong user base. Without promotion, integrations are worthless, and the outcome is stagnation.
Users also have their role to play. In demanding more wallets and actively promoting XRPL integration on major platforms, the community has the power to bring about the change.
For instance, calls for XRPL support in wallets such as Phantom are increasing, indicating that the voice of the user does count. Developers also need to up their game, making sure that only properly supported wallets get integrations and attention.
The XRPL Foundation can also fix the issue by promoting wallet diversity and bringing new players in. If not, the issue has the potential to become a long-term liability that holds the ecosystem back and restricts its growth and adoption.