Ripple and Litecoin are quite similar, even their rankings I believe, are very close. When it comes to deciding which is the better product, one of their main differences is their functions. Ripple has a single function that is constantly updated. This ensures, a simple and secure low-cost cross-border transaction is taking place. Litecoin on the other hand, was created with Bitcoin in mind and hence Litecoin has more functions.
Ripple is more attractive to large corporations and financial institutions because it provides them with a fast and safe method of the cross-border transaction, at a low cost. But Litecoin attracts more peer-to-peer transactions along with daily transactions.
I think by knowing this, you can then better understand each one’s potential. And bottomline is, do your research to discover each of their features.