Do not delete all of the files from the /archive/ folder. The files in /live/ are symlinks to the most recent file in /archive/ and need to exist.
I would think you could delete any files in those folders that are more than 90 days old as they relate to expired certs. But, I am sure other volunteers will have better info about this. I mostly wanted to warn you away from deleting the entire /archive/
I'm with @MikeMcQ, don't blindly delete this directory, as it also contains the certs currently in use.
Personally I'd say any expired certificate (i.e.: older than 90 days) isn't useful any longer and can also be deleted from the /archive/ directory. That said, I wouldn't bother: the files are small, just migrate the entire directory
You might be able to get away with migrating only the renewal configuration files and hooks, but I would test a renewal after such a migration before purging your current data.