Yes, but you need to add calcium for coralline algae growth. If you don't you probably won't see much coralline.
Coralline algae is not only beautiful being red, purple, etcetera, but inhibits green algae and other undesirable species from growing in a tank. Also, coralline algae is a good indicator, I could be wrong, that calcium is sufficiently present for other reef animals: shrimp, corals, et cetera.