Yes.
Here is the code for ending the loop
when |n/x*x - 1| < 0.00001.
## $f0 --- n
## $f1 --- 1.0
## $f2 --- 2.0
## $f3 --- x : current approx.
## $f4 --- x' : next approx.
## $f8 --- temp
## $f10 --- small value
mul.s $f8,$f3,$f3 # x^2
div.s $f8,$f0,$f8 # n/x^2
sub.s $f8,$f8,$f1 # n/x^2 - 1.0
abs.s $f8,$f8 # |n/x^2 - 1.0|
c.lt.s $f8,$f10 # |x^2 - n| < small ?
bc1t done # yes: done
j loop
done: