Not necessarily. She wants to have space to think a lot of things pertaining to the relationship and you. She wants to analyze the relationship and find out if it's alright to continue with the relationship or not. The decision she comes up after reflecting on the connection will determine the direction of the relationship. She might call you and discuss various things about the relationship, or, she might tell you, either through call or SMS, that she doesn't want to be in the relationship anymore.
Sometimes people ask for space so that they can regain the peace of mind and heart resulting from the relationship, and regain energy they lost in the relationship. In rare cases, she might not text or call you to tell you she no longer wants to continue in the relationship with you. This is after reflecting on the relationship and finding no need to let you where she stands.
Thus, you should give her ample time before contacting her.