Spurs thrashed Arsenal 3-0 in the derby at home to blow the top four race wide open going into the last two games of the season for both the north London sides.
Arsenal are still a point ahead but have no room for error anymore in the last two games and any slip up could mean that Spurs could beat them to a top-four spot this season.
Wright pointed out that Arsenal still have control over their own destiny despite the disappointment of being soundly beaten by their north London rivals on derby day.
The Arsenal legend insisted that a young Arsenal team need to keep their heads and maintain their calm as the last two games of the season are going to be mentally taxing.
The former striker said on Premier League TV post match: “We still have to remain calm.
“We are still a point ahead, we have got two games, it’s going to be difficult, but if we win those games we will finish fourth.
“Yes, it’s disappointing to lose against Spurs at any time, and tonight would have been a brilliant result if we could have beaten them and it wasn’t meant to be.
“We have just got to remain calm because they are a young team and they have got two big games coming up.”
Arsenal have a trip lined up to Newcastle United on Monday night before hosting Everton at home on the final day of the season.