XRP has surged following Gary Gensler's announcement of his upcoming departure as the chair of the U.S. Securities and Exchange Commission (SEC) in January, preserving a bullish trend over the past several weeks.

In the last 24 hours, XRP's value climbed 25%, particularly boosting interest during early Asian trading hours, as many market participants are optimistic about a shift towards a more crypto-friendly regulatory environment in the U.S.

The crypto community reacted positively to Donald Trump's 2024 electoral win due to his previous supportive positions on cryptocurrencies. Investors anticipate that under his administration, there could be policies enhancing the growth of the crypto sector. Furthermore, there is a view that an XRP exchange-traded fund (ETF) might be approved amidst evolving regulations.

In the past week, XRP has risen 65%, and over the last month, it has jumped 150%, currently showing strong resilience and market activity. Data from CoinDesk shows bullish forecasts with a target price of $1.40 in the short-term.

This growing interest and bullish market sentiment were supported by Gensler's signals of retreat, which many see as a favorable change for XRP and the broader cryptocurrency market.