If Libra's launch becomes a success, then XRP's existence may be threatened over the long term. Both cryptocurrencies would battle head-to-head in order to become the top choice of Banks worldwide. Comparing Libra vs XRP, Ripple has all the possibilities of taking the lead because of the many partnerships it has established with Banks worldwide.
NO, they are fundamentally different. They purposes are completely different. Libra will be targeting small txs for every day use , with largely collecting your transaction history and then using it.
XRP is something that is aiming to replace SWIFT.