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XRP News: Brad Garlinghouse Explodes on JPMorgan’s Jamie Dimon

Adam Forsyth
June 13, 2026
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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 support for it.

The article highlights that the real issue isn’t about compliance or AML standards; rather, it’s about JPMorgan’s defense of its $20Bn payments empire against crypto-native competitors like Ripple and its token XRP, which can offer similar services at a lower cost.

This outburst from Garlinghouse live on Fox Business came as XRP surged +1.8% overnight, with the asset sitting at $1.14 after briefly tapping $1.10 earlier this week. Daily trading volume is sitting at $1.66Bn.

XRP is the sixth-largest digital asset by market cap, currently at $70.8Bn, just below Circle’s USDC stablecoin, which has a $74Bn market cap. Analysts have predicted that XRP USD will hit $2 before 2026 ends.

The CLARITY Act: What the Bill Actually Does and Where It Stands

The CLARITY Act aims to provide regulatory oversight for 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 crypto holders as it offers regulatory clarity, allowing US institutions to invest in digital assets without legal risk. It also proposes fundraising thresholds for token projects and addresses the SEC’s current approach of suing without providing clear rules.

A recent JPMorgan note suggests that the bill would grant CFTC commodity status to several large tokens, including XRP and Solana. The bill has passed a Senate Committee vote and is headed to the Senate floor, but prediction markets suggest only a 47% chance it will be signed into law this year. Time is running short with the upcoming US election cycle.

XRP News: What the Ripple CEO Actually Argued on Fox Business

Garlinghouse accuses Dimon of either misunderstanding the CLARITY Act, which he calls negligent, or intentionally misrepresenting it. He contends that Dimon’s claim that the bill reduces compliance standards is false and does a disservice to the industry.

The sharper accusation is that Dimon is motivated by a desire to protect JPMorgan’s profitable business from competition, particularly from crypto exchanges offering yields on stablecoins that traditional banks cannot match.

This competition threatens JPMorgan’s deposits. Garlinghouse suggests that Dimon’s long-standing dismissal of the crypto industry highlights his concern for maintaining JPMorgan’s dominance in cross-border payments, an area where Ripple’s XRP operates.

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JPMorgan Crypto News: What Jamie Dimon’s Opposition to the CLARITY Act Actually Signals

In other XRP news, Jamie Dimon’s opposition to the CLARITY Act can be interpreted in two ways. On the one hand, it might reflect a genuine concern for compliance standards in traditional finance.

On the other hand, it could be seen as a strategic move by a CEO whose bank profits from the infrastructure that crypto aims to disrupt. The evidence leans towards the latter.

JPMorgan is not avoiding blockchain; it’s actively developing its own solutions, like 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 give the CLARITY Act less than a 50% chance of passing, aligning with broader market predictions after a long period in which analysts had believed 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

Here is how the three scenarios play out:

Bull case: The CLARITY Act passes the Senate floor, clears reconciliation with the House, and gets signed into law before the election window closes. Regulatory clarity unlocks institutional capital that has been sitting on the sidelines; tokens grandfathered into CFTC commodity status, including XRP news, gain cleaner paths to exchange listings and institutional products, and stablecoin yields become a legal, competitive product that reshapes competition in retail banking.

Base case: The bill stalls on the Senate floor while amendments targeting stablecoin rewards and AML language get negotiated back and forth between the banking lobby and crypto advocates. The 47% Polymarket odds hold or drift lower. 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 fails outright, either through active opposition from the banking lobby, procedural delay, or a floor vote that falls short. JPMorgan and traditional payments infrastructure consolidate their dominance in cross-border payments. The US cedes further ground to offshore jurisdictions as crypto businesses relocate, and the next attempt at comprehensive crypto regulation waits for the next Congress.

The Polymarket 47% figure is the single most important real-time signal to watch. An 18% drop in a week is not noise, it reflects genuine deterioration in legislative momentum.

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