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The forward has been linked with a move to Liverpool in recent weeks.
The 23-year-old helped Real Madrid to the Champions League semi-finals in midweek, having scored in both legs against Manchester City.
That has led to the former being linked with a move away.
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Spanish outlet Cadena Ser claimed earlier this month that Liverpool had made contact with Real Madrid over the availability of the Brazilian forward.
“Rodrygo is being talked about as the player to make way for Kylian, but that is disrespectful, and he just needs to trust in his football.
“I think Rodrygo has a chance to play in any team in the world, so he doesn't need to worry if he does have to leave.
I think there is a way for both players to play at Real Madrid.”
Rivaldo also gave his verdict on the Premier League title race heading into the final few weeks of the season.
“I think the fact that all three sides are now out of Europe, they are all ready to fight for the Premier League title, so I think everything is now open.
I think the race will be exciting, with the title going down to the very last day.”
Liverpool.com says: We don’t think Rivaldo has anything to worry about with those Rodrygo links.
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