Is my iphone completely ruined?

So I dropped my iphone and the screen cracked a lot. The display still shows, but there are multicolored lines across the entire screen, and there are black spots around the two main cracks. I can still read some of my home screen, but the touchscreen doesn't work. Is my phone completely destroyed or will I be able to replace the screen?

Replace screen. This is not expensive. If you get a kit from amazon, get one with the tools and watch the videos. There are plenty of places near you where they will do that for you.

You can replace your screen, ebay sells cheap kits

Take it to an apple store and see what the cost would be. If your contract is up just trade it in and upgrade as its better puttiing your money into that instead. You would get something back even if broken, better then nothing.