Raul revived Real Madrid's Champions League defence with the first two goals in their 3-1 win at home to AC Milan.
For the Spanish giants to miss out on a quarter-final place now, Borussia Dortmund need to win away to Milan next week and hope Madrid drop points on their trip to face Lokomotiv Moscow.
The Serie A side, already assured of qualification for the last eight as group winners, nevertheless fielded a strong side. However they had no answer to an inspired Raul, who opened the scoring in the 12th minute.
Ronaldo diverted the ball into the path of the Spain international, who fired in a low shot from eight yards.
Raul doubled his tally 11 minutes into the second half with a left-foot shot after wrong-footing the Milan defence.
Rivaldo netted a late reply for the Rossoneri only for Guti to restore Madrid's two-goal lead almost immediately.
Dortmund kept alive their hopes of reaching the quarter-finals with a 3-0 win over Lokomotiv. The game had been a scrappy affair but the opener, arriving in the 39th minute, was a well-crafted curling effort from Torsten Frings just outside the box.
Second-half strikes from Jan Koller and Marcio Amoroso wrapped up the win.
A late strike from Igor Tudor earned Juventus a 3-2 win over Deportivo La Coruna, almost guaranteeing a place in the quarter-finals for the Serie A champions and eliminating the Spaniards.
Basle - who drew 1-1 with Manchester United - can only pip Juve to second place behind the Old Trafford team if they beat the Italians by four or more goals next week.
Juve took the lead against Depor when Ciro Ferrara headed in a 12th-minute corner from Mauro Camoranesi.
But Diego Tristan levelled for the visitors after getting a touch on Roy Makaay's low cross from the right. Holland international Makaay netted his ninth goal of the competition to put Depor in front six minutes into the second half.
However, Juve, disappointing in their 3-0 reverse at home to United last week, stepped up the pressure on the Spaniards and were rewarded with a David Trezeguet goal just past the hour mark.
And Tudor stunned Depor with his winner deep into injury time.