The Portugal international was sent off in the 1-1 draw with Athletic Bilbao earlier this month, having appeared to strike Carlos Gurpegi in the face following an altercation between the pair.
Real appealed the Spanish Football Federation's three-match ban and, when this was rejected, took their case to the Spanish Disciplinary Committee for Sports.
Having already missed league clashes with Villarreal and Getafe, Ancelotti remains in the dark as to whether Ronaldo will be available for Saturday's visit of Elche.
"We have to wait for the committee's decision regarding Cristiano. I hope he can play," Ancelotti explained on Friday.
"I don't think it's logical to wait this much for the committee's decision.
"I hope the committee makes a decision before my meeting with the team.
"I think it's incredible that Ronaldo gets suspended for three games for what he did against Bilbao. He will be called up.
"I hope the committee will not meet after Elche's game because it will be very late."
Ancelotti also confirmed in his press conference that Asier Illarramendi and Raphael Varane will come in for Luka Modric and Sergio Ramos for Saturday's fixture.
The Italian went on to deny speculation linking him with a move for Chelsea goalkeeper Thibaut Courtois - currently on loan at Atletico Madrid - stating that he was satisfied to have Diego Lopez and Iker Casillas.
"Ilarra has improved a lot and has more confidence. He counts on Xabi (Alonso's) important support," Ancelotti continued.
"Illarra has proved in the last two games (so) that he can play alongside Xabi Alonso.
"I don't think we will sign Courtois. We have two great goalkeepers. We are solid in goal."
