Welcome to the State of Crypto Weekly, an investor-focused newsletter from 21shares that dives into the key trends driving the digital asset landscape.

This week, we’re resuming our Price Predictions series, unpacking the key drivers for the year ahead:

• Where is Solana headed in 2026?

• XRP could go up to $2.69 this year

• Here’s what it takes for Aave to reach $220 in 2026

Predicting prices is arguably the financial world’s favorite game. In the cryptocurrency market, that interest is multiplied by historical narratives around volatility and market reactions. But what really drives prices? And what do we think is on the cards for Solana, XRP, and Aave in 2026?

WHERE IS SOLANA HEADED IN 2026?

Scale is proven, value capture is not

Solana enters 2026 as one of the best-performing blockchains with rapidly growing US dollar payments and meaningful institutional experimentation. The debate is no longer whether Solana can scale usage; this has been resolved. The unresolved question is whether economic activity on Solana can be converted into durable value capture for SOL investors.

XRP COULD GO UP TO $2.69 THIS YEAR…

And what could drag it down to $1.60?

As we enter 2026, XRP has reached a historic inflection point: a decisive shift from speculative volatility to a valuation anchored in institutional fundamentals. Following years of regulatory exile, the August 2025 resolution of the SEC litigation dismantled the structural ceiling that historically suppressed price regardless of the asset’s utility.

HERE’S WHAT IT TAKES FOR AAVE TO REACH $220 IN 2026

Aave’s valuation is no longer tied to lending market share alone

Aave has already crossed the threshold from experimentation into production. The question now is whether it can operate as a full-stack credit system that spans protocol infrastructure, user distribution, stablecoin issuance, and serves as the leading yield-generating hub for institutional tokenized instruments, while maintaining governance credibility for token holders and defending market share with rising competition.

DARIUS IN DAVOS

Takeaways from Web3 Hub

Our very own crypto research strategist, Darius Moukhtarzadeh spoke at Web3 Hub in Davos on Thursday, January 22. Here’s his take on the connection between blockchains and AI. ”Blockchains are the most native and efficient rails for AI agents to transact, and with the latest standards such as Coinbase’s x402 and ERC-8004, the agentic economy is poised to grow significantly, unlocking trillions in payments over the next few years.”

DUNCAN MOIR IS #PROUDLYNERDY

Do you speak CryptoDavosian?

21shares’ president compiled a phrase book for his trip to Davos last week, inspired by the FT’s ”Davosian” cheat sheet. Here it is, in case you want to brush up on your crypt vocabulary!

In case you missed it

21shares in the world

Darius on CoinDesk

Our crypto research strategist Darius Moukhtarzadeh gives his two cents on why the Base token should give holders voting power over Coinbase itself.

Our 10 bold predictions for 2026, devoured in Italy

Italy’s most read national newspaper Il Corriere Della Sera, has featured a deep dive on the State of Crypto!

Connect with us today

If you have any questions or want to discuss a product in detail, please visit our website at www.21shares.com

Research Newsletter

Each week the 21Shares Research team will publish our data-driven insights into the crypto asset world through this newsletter. Please direct any comments, questions, and words of feedback to research@21shares.com

Disclaimer

The information provided does not constitute a prospectus or other offering material and does not contain or constitute an offer to sell or a solicitation of any offer to buy securities in any jurisdiction. Some of the information published herein may contain forward-looking statements. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties and that actual results may differ materially from those in the forward-looking statements as a result of various factors. The information contained herein may not be considered as economic, legal, tax or other advice and users are cautioned to base investment decisions or other decisions solely on the content hereof.