Yes you can do it with ode45().
dX/dt = -0.000038*X - (X*(X/Xinit)^frac)*rext
dY/dt = - 0.000038*Y + rext*X - rtra*Y + Sr
dZ/dt = - 0.000038*Z + rext*Y - rtra*Z + Sti
dU/dt = 0.000038*U + rext*Z - rvol*U + Sfeu
You want to replace X,Y,Z,U with x(1),x(2),x(3),x(4).
Your equation for dX/dt includes (X/Xinit)^frac. If Xinit=X(0), you have a divide-by-zero problem, since you said X(0)=0.