Yes, it is possible. a very sleek ground effect machine, with loads of thrust and very little frontal
area is capable of going very fast, but it wouldn´t be able to dive... the r/c plane that flew at more than 600 km/h in a dive in the gps pic, only achieved about 400 km/h flying horizontaly.

Even with a higher parasitic and induced drag, compared to a wig, a winged machine has this definitive advantage.

Enrique