Ripple is not intended to replace Bitcoin, nor will it. Each focuses on solving a separate and distinct set of problems. Ripple complements Bitcoin.
Bitcoin is currency 2.0, whereas Ripple is more accurately described as financial TCP/IP 2.0. Ripple is designed specifically for transacting external currencies.
https://ripple.com/wiki/Introduction_to_Ripple_for_Bitcoiners#Bitcoin_and_Ripple_Work_Great_Together
A reputed scammer with vested interests led a campaign against it that has spread a lot of misunderstanding. An outdated and inaccurate paranoid attack site is a vestige of this effort.
Here is the Ripple source code, in case anyone is interested: https://github.com/ripple
Ripple vs. Bitcoin is a dead and tired argument.
Bitcoin is not going anywhere, but it is increasingly beholden to centralized exchanges and payment processors. Ripple offers a means of addressing those concerns.
Ripple vs. Circle vs. Coinbase vs. MtGox vs. Cryptsy vs. inputs.io is exactly where Ripple merits reconsideration.
XRP is the principle remaining source of angst toward Ripple.
Ripple implements a lot of great functionality, like cross-currency payments and decentralized exchange---and is working toward full implementation of other impressive features:
- https://ripple.com/wiki/M_of_N
- https://ripple.com/wiki/Contracts
- https://ripple.com/wiki/Federation_protocol
If you hate XRP, check out Splash: https://bitcointalksearch.org/topic/pre-ann-splash-ripple-without-the-pre-mine-372486
Ripple brings a lot of innovation to the table---consider ripping it off, before dismissing it outright
