'Ripen' is a verb. 'Ripe' is an adjective. Use: 'Ripe'.
I agree with Ahmed_btm. Interestingly, "ripen" can be changed from a verb into an adjective (a participial adjective) by adding -ed: "ripened." Thus, we can speak of there being many ripeguavas on the guava tree, or of there being many ripenedguavas on the guava tree. "Ripened" is commonly found in hyphenated constructions, like "sun-ripened tomatoes" and "tree-ripened guavas." In your sentence, bear_bear, "ripe" would be the usual choice, even though both words work. If the guavas on the guava tree were not yet fully ripe, you could speak of their being many ripening guavas on the guava tree (another participial construction).
As you can read in David's answer, "ripe" is the usual choice, but "ripened" can work too to refer to the completion of the process of ripening. Notice that David said that "ripened" is usually used with the agent, as in "sun-ripened," meaning "ripened by the sun."
Compare white wall with whitened wall. A white wall is one which is white and has perhaps always been white, while a whitened wall is one which has undergone a process of whitening.
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