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Should be fine, but its definitely on the low end in terms of ram.
Nextcloud requires 128mb minimum, but ideally 512mb minimum.
Wordpress should fit in the left over space.
If your traffic/usage is not excessive, you should be fine.
This lines up with my experience. I have nextcloud and wordpress on two different vps's and just checked their ram usage.
Caveat to the above is that nextcloud is installed bare metal rather than docker and I have both nextcloud and wordpress set up to use object storage as the media back end.
edit: To add to this OP, the reason we are only talking about ram numbers is that the cpu usage for these applications (with primarily only a single user) is pretty much zero most of the time, so you aren't going to be limited by the single core machine.
Also, depending on your use case (large amount of data on nextcloud or large media files in wordpress), you might run out of disk space pretty quickly. In those cases, you should consider using object storage as your nextcloud or wordpress media backends as it is cheaper than block storage (there are plugins/tutorials to configure object storage and Linode offers it).