The correct statement is " The element is more readily reduced than hydrogen." A hydrogen electrode is always attached to the rod of the element being investigated to obtain the electrode potential. It is called a standard hydrogen electrode, because the conditions are standard with pressure at 1 atm and the concentration of
ions at 1M. A positive standard reduction potential means the element's electrode forms its metal ions less readily than hydrogen, which leads to the electrode being reduced by gaining electrons and the potential difference giving a positive value.