Rangers lost 3-1 to St Johnstone this week but it was only their first defeat after a series of wins and they remain top of the Scottish Championship.
And Warburton doesn't feel his side are that far off Scottish champions Celtic, who currently find themselves five points off Aberdeen in the Scottish Premiership.
The Rangers boss is quoted as telling reporters: "I wouldn’t agree with the use of five ‘longs’ - and I don’t mean that in a sarcastic way.
"You can say we are miles away from them. I don’t think so. I’ve just been asked [by the broadcast media] whether I can restore our confidence and belief."
The momentum swings will no doubt persist right up until the day Rangers actually face Celtic.
Twitter and the like were full of Rangers fans dismissing Celtic's quality when the Bhoys were knocked out of the Champions League and the Gers were on an unstoppable winning run.
Now that Warburton's men have lost, though, Hoops supporters are once again taking to social media to mock the Glasgow club.
Warburton certainly looks as though he has improved Rangers - immensely. But the question of how far they are from Celtic, naturally, can't truly be answered unless they are promoted.