In XRP News today, Ripple CEO Brad Garlinghouse accused JPMorgan CEO Jamie Dimon on Fox Business of either misrepresenting the CLARITY Act or spreading misinformation to undermine its support.
The article highlights that the real problem is not about compliance or AML standards; Rather, it is JPMorgan’s defense of its $20 billion payments empire against crypto-native competitors like Ripple and its XRP token, which can offer similar services at a lower cost.
This outburst from Garlinghouse live on Fox Business came as XRP jumped +1.8% overnight, with the asset sitting at $1.14 after briefly trading at $1.10 earlier this week. The daily trading volume stands at $1.66 billion.
XRP is the sixth largest digital asset by market cap, currently at $70.8 billion, just below Circle’s stablecoin USDC, which has a market cap of $74 billion. Analysts have predicted that XRP USD will reach $2 before the end of 2026.
$XRP has been in a channel since July 2025
$1.1 is a good buy with a low R:R as it breaks through the channel.
Do you buy here or do you think #XRP will fall? pic.twitter.com/qzNtdw5PBb
– Seth (@seth_fin) June 11, 2026
The CLARITY Act: What the Bill Really Does and Where It Stands
The CLARITY Act aims to provide regulatory oversight of the crypto industry by clearly dividing jurisdiction between the SEC and the CFTC. Decentralized, commodity-like tokens would be regulated by the CFTC, while others would fall under the SEC.
This bill is important for cryptocurrency holders because it provides regulatory clarity, allowing U.S. institutions to invest in digital assets without legal risk. It also proposes fundraising thresholds for token projects and addresses the SEC’s current approach to prosecutions without providing clear rules.
A recent note from JPMorgan suggests that the bill would grant CFTC commodity status to several large tokens, including XRP and Solana. The bill passed the Senate committee and will move to the Senate, but forecasts suggest there is only a 47% chance it will be signed into law this year. Time is running out with the upcoming US election cycle.
XRP News: What Ripple CEO Really Supported on Fox Business
Brad Garlinghouse isn’t holding back.
Ripple’s CEO just spoke to Fox Business to denounce Jamie Dimon’s pushback on crypto regulation. "intentional misrepresentation."
“$13 trillion in existing volume, 0% on-chain…yet.”
"Stablecoins are the ChatGPT moment of… pic.twitter.com/jJi5Lrk3u3
– 𝗕𝗮𝗻𝗸XRP (@BankXRP) June 11, 2026
Ripple’s CEO just spoke to Fox Business to denounce Jamie Dimon’s pushback on crypto regulation. "intentional misrepresentation."
»Garlinghouse accuses Dimon of either misunderstanding the CLARITY Act, which he calls negligent, or intentionally misrepresenting it. He argues that Dimon’s assertion that the bill reduces compliance standards is false and does the industry a disservice.
The harshest accusation is that Dimon is motivated by a desire to protect JPMorgan’s profitable business from competition, particularly from crypto exchanges offering returns on stablecoins that traditional banks cannot match.
This competition threatens JPMorgan’s deposits. Garlinghouse suggests that Dimon’s long-standing rejection of the crypto industry highlights his concern with maintaining JPMorgan’s dominance in cross-border payments, an area in which Ripple’s XRP operates.
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JPMorgan Crypto News: What Jamie Dimon’s Opposition to the CLARITY Act Really Signals
In other XRP news, Jamie Dimon’s opposition to the CLARITY Act can be interpreted in two ways. On the one hand, this could reflect a genuine concern for conformity with the norms of traditional finance.
On the other hand, this could be seen as a strategic move by a CEO whose bank benefits from the infrastructure that crypto aims to disrupt. The evidence leans in favor of the latter solution.
JPMorgan is not avoiding blockchain; it is actively developing its own solutions, such as the Kinexys platform. Dimon’s comments criticizing Coinbase CEO Brian Armstrong seem more like frustration over losing a lobbying battle than a principled stance.
JPMorgan analysts currently estimate that the CLARITY Act has less than a 50% chance of passing, in line with broader market forecasts after a long period of analysts thinking it was a sure thing.
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Will the CLARITY Act survive? What the Dimon-Garlinghouse fight means for crypto law and XRP News
When we see CLARITY enacted, there better be a big gold chair in the middle of the front row for @patrickjwitt. Heroic work is done to cross the finish line.
— Paul Grewal (@iampaulgrewal) June 12, 2026
Here is how the three scenarios play out:
Case of the bull: The CLARITY Act passes the Senate, authorizes reconciliation with the House, and is signed into law before the election window closes. Regulatory clarity frees up institutional capital that has remained on the margins; Tokens acquired CFTC commodity status, including XRP news, benefit from cleaner paths to exchange listings and institutional products, and stable coin yields become a legal, competitive product that reshapes competition in retail banking.
Reference case: The bill stalls in the Senate while amendments targeting stablecoin rewards and AML language are negotiated between the banking lobby and crypto advocates. Polymarket odds of 47% hold or decline. Crypto companies continue to operate amid regulatory uncertainty, offshore volume remains offshore, and incumbents like JPMorgan maintain their structural advantage through the election cycle.
Bear case: The bill completely fails, either because of active opposition from the banking lobby, procedural delays, or a failed floor vote. JPMorgan and traditional payment infrastructures are consolidating their dominance in cross-border payments. The United States is further ceding ground to offshore jurisdictions as crypto companies move offshore, and the next attempt at comprehensive crypto regulation awaits the next Congress.
Polymarket’s 47% figure is the most important real-time signal to watch. A drop of 18% in one week is not noise, it reflects a real deterioration in legislative dynamics.
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