If you don't understand the global payments space than you won't understand how this is actually very positive for XRP.  XLM is irrelevant as they don't have a team able to build the necessary liquidity to process even micropayments consistently through any corridors without costly slippage.  What JPM is doing is simply creating some efficiencies within their own existing network.  But no competing bank will adopt it.  The only way a bank backed coin such as this is a threat to XRP is if you believe all global banks will agree on a single coin to use putting aside competitive and geopolitical differences.  Ripple is a centralized company however XRP and the XRP ledger are decentralized and permission less.  It's open and more decentralized than BTC or ETH while being the fastest and cheapest to use.  It was specifically designed to handle high-volume payments and the ecosystem continues to grow.  Currently its being used to send value across 44 currencies globally and liquidity is rising!  XRP will end up being the bridge asset between competing banks including central banks.  What these bank backed coins are doing is just creating more walled gardens and less efficiency amongst each other.