Mark Warburton's men currently hold a five point lead at the top of the table.
Mark Warburton's side are currently five points clear of both Hibs and Falkirk - however, the Bairns have played one game more than both of their rivals - and Riordan believes that Alan Stubbs' men have one final chance to stay in the title race, and that will come when Hibs meet the Light Blues for the final time this season in March.
"The five-point gap differential to Rangers is quite a lot by this stage of the season," he told the Record.
"The goal difference is also something that will make it hard for Hibs to catch Rangers.
"They would have to win their one remaining game left against Rangers. They also cannot afford to slip up in any of the other matches if they are to push Rangers all the way in the title race."
While Riordan may question whether Stubbs' side can catch the Gers at the top of the table, Hibs have recently made an addition that may prove to be the catalyst for a title push.
The club confirmed on their official website yesterday that they had completed a deal to sign Celtic striker Anthony Stokes on loan until the end of the season, and Stubbs will be hoping that the 27-year-old can form a formidable partnership with the club's current star striker Jason Cummings.
With nothing to separate the top three sides defensively - with all three conceding just 16 goals in the league this season - it is Rangers' attacking prowess that has seen them take control of the division.
The Gers have scored 24 more goals than Falkirk, and 27 more times than Hibs, so Stubbs will be hoping that his front two can hit it off straight away and inspire the side to claw back the five points that has led Riordan to almost write off their chances completely.