Possible, and if one ground is bad there is potential for others to cause problems as well. Could be a multitude of electrical or mechanical problems so start troubleshooting the easy stuff first. Which engine is it? Any aftermarket stuff (stereo, GPS, security, etc.)?
Things to check (explained in more detail further down):
1. Wire - Battery Negative to ground
2. Wire - Engine block to chassis (engine grounds)
3. Wire - Alternator positive to battery positive
4. Wire - Battery to engine bay fuse box
5. Check voltage of battery
6. Check ALL fuses
7. Pull engine codes
8. Other things smarter folks might suggest
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The Big 3
http://www.the12volt.com/installbay/forum_posts.asp~TID~73496~PN~1
1. Battery negative to ground
2. Engine block to chassis (engine ground)
3. Alternator positive to battery positive
Any one of these cables disconnected or corroded (lowering current capacity) can lead to a wide array of apparently random electrical faults involving lights, radio, or EFI systems. Make sure the wires are in good condition (no frays, breaks, or corrosion) and the connection points are clean and to bare metal. I've replaced all my stock grounds with larger 2-4 gauge cable.
Battery negative to ground is essential, in the pickups and 4 runners it comes stock as a fairly thin wire coupled to the passenger side in a pretty serious kink. Rough roads or loose battery tray can cause the wire to bend, fray, and eventually break.
Engine block to chassis is very important as it is the alternator "negative" ground location. Alternator negative is just the case itself, grounds through the block to the chassis on the left (drivers side) wheel arch sheet metal. On the V6 there is also a ground from the backside of the air intake chamber to the firewall.
22re ground locations
http://www.yotatech.com/f116/22re-ground-wire-locations-guide-194413/
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4. Battery to engine bay fuse box
READ THE FOLLOWING THREAD
http://www.yotatech.com/f116/2nd-gen-mystery-electrical-problem-solved-write-up-33526/
Basically the wire that runs from the positive terminal of the battery to the main fuse box in the engine bay is sufficient when brand new to carry enough current for all the systems it services (
many) but any deterioration over time leads to a reduction in its capacity and things start to go awry. The entire thread (so read all the posts, not just the first one) above does an excellent job of describing the problems and the fix so i wont go into it any more than to say check the wire and if necessary, replace with larger gauge cable.
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5. Check battery voltage (pretty sure these are correct)
Not running Min 12.5V
Running (no load) ~14.4
Running (under load) >13.8V
Bad battery or alternator could be an issue here. Could pull the Alternator if you really want and get it tested, but I'd hold off until you exclude the other stuff here.
6. Check fuses - engine bay and drivers side kick panel
7. Check for ECU codes -
http://lcengineering.com/TechNotes/TechNote12.htm