Liverpool topped the Premier League table in November and looked poised to mount a title tilt, but a top-four finish is now the only thing they can hope to salvage from their season.
While they could be out of the top four by kick-off at Vicarage Road on Monday, Klopp wants his players to remain mindful of how privileged their position is.
"When we were first or second in the table and all that stuff, I said the only thing we can do is to be in the battle for the interesting positions at the end of the season," he said.
"The end of the season is now, of course. It is the last month of the season and we are in the battle. So what else do we want?
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"Yes, it would be nice if we had 10 points more and fight with Chelsea for the title, but that's not for us obviously in this moment.
"So we have to fight for what we can fight for and that's a Champions League place. That's really, really interesting, to be honest."
Liverpool saw a seven-game unbeaten run ended by an unexpected 2-1 home defeat by Crystal Palace last weekend.
They remain third in the table going into the weekend, but will slip to fifth if fourth-place Manchester City win at Middlesbrough on Sunday and fifth-place Manchester United prevail at home to Swansea City.
Klopp hopes to be able to call upon England pair Adam Lallana and Daniel Sturridge, both of whom resumed training with the first team on Friday.
Midfielder Lallana has been out for over a month with a groin injury, while striker Sturridge sat out the loss to Palace due to a sore hip.
Captain Jordan Henderson remains sidelined with an ongoing foot issue, along with Sadio Mane, Ragnar Klavan and Danny Ings.
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"Adam is back in team training for the first time, which is very, very good news," said Klopp.
"Hendo is not on the pitch so far and there's nothing new to say about (him). Daniel is in team training again, too, and that's good.
"Now we have to train with the boys to see how they are, what shape they are in and then see what we can do with them."
Black Cats relegated
David Moyes's sorry Sunderland were relegated from the Premier League after a 1-0 home defeat by Bournemouth at the Stadium of Light on Saturday.
Allied to Hull City's 0-0 draw at Southampton, the result left Sunderland 13 points adrift of safety with only 12 points to play for this season.
"I'm really disappointed," said Sunderland manager Moyes. "I feel for the supporters. They put their heart and cash into the team and my thoughts are mainly with the supporters."
Josh King scored the goal that condemned Sunderland to the Championship, converting a pass from Ryan Fraser after a sweeping counter-attack in the 88th minute.
Southampton had a chance to give Sunderland a stay of execution, but Dusan Tadic's stoppage-time penalty was saved by Hull goalkeeper Eldin Jakupovic.
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Ask if he will remain in his post, Moyes replied: "To think about it and talk about it now is just too quick.
"They're questions for a week or two down the line. I'm not sure it's for now. I'd like to make sure we get Sunderland back in the Premier League."
Burnley bolster survival bid
Burnley's first away league win of the season left them within touching distance of Premier League survival after they saw off Crystal Palace 2-0 on Saturday.
Goals at either end of the match from Ashley Barnes and Andre Gray secured victory at Selhurst Park as the Clarets finally savoured winning all three points on the road for the first time this term.
The win left Sean Dyche's men eight points clear of the relegation zone, with a maximum of 12 available to third from bottom Swansea.
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Barnes struck after just eight minutes and Gray five minutes from time as Burnley recorded their first Premier League win in London at the 16th time of asking.
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