Barisic hit out at the Parkhead caretaker on Friday morning after Kennedy said that, on their day, Celtic were the best team in the country.
The Croatian was speaking during Rangers’ pre-match press conference looking ahead to Sunday’s Scottish Cup fourth round tie between the clubs at Ibrox.
Kennedy, instead of hitting back at Barisic, explained that his earlier quotes had been taken out of contest.
He told the broadcast press on Friday afternoon: "People take the comment out of context. I was referring to us going into a cup game and on our day we can still beat the best performing team in the country. That's purely what it is.
"Several times over the past few weeks I've congratulated Rangers on wining the league because they've been the most consistent team and they deserve it. I've shown full respect to Rangers for what they've done.
"I'm entitled to say that on any given day, especially in a cup tie against Rangers that we can come out on top."
Barisic said earlier: “It’s the biggest joke I’ve heard this season. They didn’t win against us in three games and we are 20 points in front of them so it’s a little bit disrespectful to us.
“You always need to be realistic. If someone is 20 points ahead of you, you just don’t talk like that.”