Carlo Ancelotti warned Real Madrid that they face a fight to reclaim top spot in LaLiga, with neighbours Rayo Vallecano next up for them on Sunday.

Madrid currently sit third in the standings with 54 points, three behind leaders Barcelona, who play on Saturday.

Los Blancos have lost two of their last five LaLiga matches (W1 D2), as many defeats as in their previous 53 matches in the competition (W39 D12 L2).

As it stands, Madrid are the least likely of the top three to win LaLiga according to the Opta supercomputer. They are given a 22.2% chance of retaining their title, compared to 54.4% for leaders Barcelona and 23.4% for Atletico Madrid.

Despite Madrid's unbeaten run in the Copa del Rey and a six-match winning streak in the Champions League, the reigning LaLiga champions' form is a concern for Ancelotti.

"We are ready to fight for every game and in every competition. I am much calmer for tomorrow's game because we have had five days of rest," he told reporters on Saturday.

"It will be harder on a physical and mental level, but you have to take that into account. We are very close to a Copa del Rey final, to the top of the table and to the Champions League quarter-final.

"It is not the ideal situation because that would be to be the leader of LaLiga, but we are ready to fight."

Madrid slumped to a 2-1 defeat at Real Betis last weekend, meaning they have conceded 25 goals after 26 games in LaLiga this season, their worst tally at this stage of the competition since 2018-19 (31 - finished third).

Ancelotti gave a scathing assessment of the loss but praised his players for their efforts as well.

"I was disappointed with the game against Betis because I didn't expect this drop in form, but it was an isolated one," Ancelotti said.

"Players don't choose their games, but sometimes they are very tired, and you can't be at 100% in every game. It was a good dynamic but we reacted well. Hopefully, we can get back to the good form we had before Betis."

Ancelotti said midfielder Luka Modric will be available to "play [on Sunday] and on Wednesday" in their Champions League return at Atletico and the team have had ample recovery time following Tuesday's 2-1 first-leg victory over Atleti.

While Madrid will be fresh as they bid to close the gap at the top of LaLiga, Rayo, who are seventh with 36 points, will be determined to snap a three-match winless run in the league.

"They are doing very well; they are a brave and well-organised team. They are going to demand a lot from us, and we have to be ready. The match is vital," Ancelotti added.