It is now possible to archive specific form responses if you'd no longer like to view that data as active.
To do so navigate into Forms.
Once you're on the forms page just search for the form which you'd like to archive some responses under:
Then click Actions -> View Data.
Once on this page you can tick the response(s) you'd like to archive and then click Bulk Actions -> Archive:
Once you've clicked Archive and confirmed your choice you'll see a green success banner like so:
If you'd ever like to view archived form data again just click the Archived toggle on the top left side of the screen:
You can then restore archived responses by ticking them to select the records you want to restore and then clicking Bulk Actions -> Restore.