Probably via software, but even if it does you can expect the performance to be very poor or not practical for gameplay. I would go with the mindset of no even if it does get support.
No there is not hardware ray tracing support and never will be in the RDNA cards and no driver will ever add anything like that. Only the RDNA2 cards have dedicated hardware to support it.
AMD will have mid level RDNA2 cards which will be the 6700 series out in the coming months. They will have ray tracing hardware and it is assumed similar price points to the current 5700 cards.