Rangers conceded three goals before half-time against Ajax in Amsterdam on Wednesday night and eventually lost their opening group game 4-0.
They are in Group A, alongside the Dutch champions, Liverpool and Serie A giants Napoli, and are widely expected to finish at the bottom of the standings.
Jordan stressed that Rangers are not just at the level of the other three teams in the group and could only scrape a point or two from the five remaining games.
He admitted that ideally, he would like to see Rangers beat Ajax in the return match at Ibrox, but conceded that the best they can hope for is a draw and another point against Liverpool at home.
Asked how many points he expects Rangers to get in the Champions League this season, Jordan said on talkSPORT: “One, maybe two tops.
“That’s not because I am trying to diminish them, I just don’t think they are at the level of Ajax, Napoli and Liverpool.
“I’d be surprised if they did [win a game in this group], I hope they do.
“I hope they give Ajax a return at Ibrox that is befitting and deserving of the Rangers fans because they are fantastic.
“I suspect that might be the game they win.
“But I suspect they get a draw against Liverpool in the battle of Britain and they might get a draw against Ajax in the return.”
Rangers have a tough trip to Aberdeen on Saturday before they host Napoli, who took Liverpool apart in Italy, in the Champions League at Ibrox next Tuesday night.
