Peter Horne and Josh Strauss each touched down for the hosts, but it wasn't enough as Northampton ran out 26-15 winners.
However, Russell is keen to ensure the GUINNESS PRO12 champions don't overreact to the defeat.
"It's still the same," said the fly-half. "We want to win all our games, but obviously this was not one of them. Now we need to win four or five of the next five games to qualify.
"That's not us out of the tournament at all. It makes it a bit tougher for us, but we're definitely not out of the tournament."
Next up in the competition is another Scotstoun showdown, with GUINNESS PRO12 rivals Scarlets coming to town on December 12.
Before that, however, the Warriors return to league action - starting with Benetton Treviso on Friday night - and head coach Gregor Townsend is eager to bounce back in style.
"We have two games before we play Scarlets, and that will be a reasonably good test of our set-piece, which is what we want," said Townsend.
"I'm sure there will be a lot of scrum and lineout work this week in training and Treviso at the weekend will be a good marker of whether we have improved from Northampton."
To buy tickets for the GUINNESS PRO12 Grand Final click here. Also follow us on Facebook, join the conversation on Twitter, sign up to our YouTube channel for extensive match highlights and sign up for our newsletter for regular updates on the GUINNESS PRO12.
63x46.png){kind=logo}