Yes.
In a nutshell...
RMS is sort of an "average" (not exactly, but the specifics aren't that important for the average player). You are not using anywhere near the 480W RMS rating of your amp until you're cranking the amp.
With all amps, power fluctuates. It rises and falls with each note you play. As long as you're not pounding your bass with the amp's volume set really high, you should be fine. At low volumes, you're not using anywhere near that much power.
Besides, you'll be able to hear when your rig is being pushed too hard - your cab will sound unpleasantly distorted ("farting out") if it's pushed too hard. If it is, make adjustments to your EQ, and roll back the volume until it's good.
