Hi Goddess,
Upright, I have seen this card to represent desires that the sitter is incredibly passionate about, hoping that they will develop. I'm sure sometimes they do, sometimes they don't.
This card shows enthusiasm to me...similarly to the fool, you can't achieve anything without the fire, energy and enthusiasm. I see this as potential, but of course it depends on other factors. Just look at other cards to see who, or what, is needed for this ace to manifest.
Hope this helps....at the end of the day though, I don't view it as a no, (maybes rx, but I don't read that way) rather as a possibility because all of the energy surrounding the card.