The Portuguese was withdrawn at half-time of Sunday's draw with Barcelona having picked up an ankle injury in the process of scoring in the early stages at Camp Nou.
Concerned Madrid supporters feared the worst for their star forward, who has scored 15 goals in 12 European appearances this season to lead them to the final against Liverpool in Kiev on May 26.
And Goal understands that after further tests the club are happy with how their prized asset is shaping up, with Ronaldo himself having spent Monday morning starting his recovery at the club's training ground.
But Madrid are quietly confident that he could yet be available to face Villarreal on the final weekend of the Liga season ahead of their pursuit of a third European title in four seasons a week later.
Despite that encouraging news, the injury is likely to end any hopes Ronaldo has of catching Lionel Messi in the race for this season's Pichichi Trophy.
Messi leads the way to be named La Liga's top scorer with 33 goals, with Ronaldo still eight strikes behind.