Chris already proved we can do exactly that for Ruby with TruffleRuby. I don’t think there’s any reason GraalPython couldn’t do the same given more work?
These are only simple benchmarks, but do indicate a rough ballpark for TruffleRuby: https://github.com/kostya/benchmarks
As I understand it, Crystal would be a good Ruby alternative if you want performance. This is of course a whole new language designed with performance in mind from the beginning and here is a repeating theme: you need to consider performance at the start, not 20 years later.
Crystal has wildly different semantics to Ruby, so it’s not a good alternative at all.