I would say YES. I would restore peace.
In my experience, when family members stop speaking, there is usually more than one solitary event that led to the separation of sorts. For example, my sister and I always had some sibling rivalry. She's older and always had some resentment toward me because I was "mommy's favorite" according to her. As we got older, she was sort of the ugly duckling/loner and I was just the opposite. We still loved each other and I never imagined we'd stop speaking, but one day during an argument (over the phone) I called her the "B" word....and that was it. She cut all ties and it's been years since we've spoken.
So, I can tell people, "She stopped speaking to me because I called her a B," which is a fact. However, there's an underlying history. I never "did" anything to her or wronged her in any way. She obviously grew up with a lot of anger and resentment towards me, and that argument was just the straw that broke the camel's back for her, I assume. I think it's all very silly and petty. However, I wasn't the one harboring the resentment. Obviously, she feels she has valid reasons for ending our relationship.
It wouldn't be so bad if we just stopped speaking and that was the end of it. It's not that easy though. The whole family is affected because everyone has to watch what they say or they feel like they do. She's had a child now that I don't know and it's all very unnecessary really. She is closer to our mother (way closer) than I am, but I can imagine it's going to be very awkward when she gets old or ill. It's ironic that she resented me for being "mommy's favorite" and now she and my mother are best buds.
Now, I do have a brother who stole from me and I cut ties with him. He's much older than me and I grew up watching him do drugs, go to jail, etc. None of that changed how I felt about him, but when I opened up my home to him and he stole my video camera that had a tape with my baby's first steps, first birthday, etc. on it....that broke my heart in more ways than one. Several years went by without us speaking, but I got over it. Not completely. He's not welcome in my home and he's not part of my life, but that has to do with his lifestyle more than what he "did to me." I'll speak to him if I see him, give him a hug, tell him I love him. That's about it.
That's a complex question with no simple answer, really. Being the one who was cut off and the one who cut someone off, I still think making peace in some way is the best choice for everyone, especially yourself.