In a large bowl, combine Monterey Jack cheese, cheddar cheese, diced jalapeños, garlic powder, onion powder, smoked paprika, salt, and black pepper. Mix well.
Using your hands, form the mixture into small balls, about 1 inch in diameter. Place them on a baking sheet lined with parchment paper.
Freeze the cheese balls for at least 30 minutes to firm up.
Set up a breading station with three shallow bowls: one with flour, one with beaten eggs, and one with breadcrumbs.
Roll each cheese ball in flour, then dip in beaten eggs, and coat with breadcrumbs. Repeat the process for extra crispiness.
Heat vegetable oil in a deep fryer or large pot to 350°F (175°C).
Fry the breaded cheese balls in batches until golden brown and crispy, about 2-3 minutes.
Remove with a slotted spoon and drain on paper towels.
Serve warm with ranch dressing or your favorite dipping sauce.
