There's talk of Ancelotti losing his job on Wednesday and being replaced by Rino Gattuso.
Lippi told TMW: "Ancelotti has had an extraordinary career, he is a coach who's won a lot.
“There are high and lows in life, and for now things are not going well in the League, but Napoli have time to readjust the situation."
On Italy coach Roberto Mancini, he added: “Everything is positive and beautiful. Roberto is doing very well; he has sent important messages to the clubs, asking them to let young players play and the clubs have listened to him.
“It bodes well for the future."