Well obviously this was the first ship of the RWBY series which we thought would end up to be the first canon, unfortunately...not.
The bond they formed is one forged from respect for one another's abilities, weapons and etc...In that episode I thought they were going to use the girl-meets-first boy-she-sees-boy formula but since RWBY doesn't stick with that sort of culture, they keep it cool between them. Sadly, it doesn't really blossom into something more. Obviously, Jaune was already hitting on other girls right after he meets Ruby.
And then I thought when he was hitting on Weis and the older girls, the way he talked to Ruby isn't flirting because he noted the age difference.
Sure they are close but Jaune forms the same level of bond with others when he was separated into another group, JPNR. From the on, a rift kind of stretched between them so I guess I'm saying....no? I don't anything can happen anymore after Jaune's many events with Pyrah.
And of course, even in Season 4, understanding is still the only thing Im seeing there but who knows? Jaune is available again and options are piling up, including Ruby.
Do I ship this? ER......no? Not anymore but there are again many possibilities.
Relationship Status-Friends/possible future lovers (anything can happen when they're adults, take in consideration what happened to the team of Ruby's parents).
*I can't find their ship name! I made two which aren't very good.
°Tulips
°Crimson Blade
VIdeos Below:
Should Ruby and Jaune be a thing?
Videos AMV