It’s possible. Ray and Dave Davies seem to have made up and drummer Mick Avory seems to be into it.
Things are looking up if this article in Uncut is anything to go by:
“I think it would be nice to do something all together,” says original drummer Mick Avory, who left the band in 1984. “Because the chances are diminishing as we talk. Hopefully me, Dave and Ray can meet before it happens. We’d have to knock our heads together and rehearse, if we meant to do it properly. We haven’t played together for God knows how long.”
I’ve never seen the Kinks live. Maybe we’ll get our chance after all.