Litecoin does have potential to replace Bitcoin in the future, especially if BTC evolves into a store of value and abandons the position of an everyday currency. LTC uses the same technology, but it is modified and improved; it is accepted on most exchanges, and it is one of the oldest surviving altcoins. However, while I say that it does have potential, its price growth is currently still closely tied to Bitcoin's behavior, and I don't believe that LTC would do anything on its own in the foreseeable future.