Provided you've turned off both valves on the radiator no problem. I tend to collect the liquid drained of the radiator and if it's clean tip it back into the expansion tank in the loft for re-use.
......... and don't forget to 'count' how many quarter-turns clockwise you turn the lockshield end of the rad valve in closing it. Then you know how far anticlockwise when you refit, else you may have to rebalance the whole system to get the rad temperatures right.
If you do remove it then I would either put a blanking cap on the ends or put something below each valve just in case they leak as it has been known for them to open up slightly so better to be safe than sorry.