The Welsh outfit are currently second from bottom in the table, three points adrift of safety.
While Sharpe believes that it is too late for manager Ole Gunnar Solskjaer to turn things around at this stage, he suspects that the Norwegian will earn promotion from the Championship next season.
"It's looking a little bit sad for Cardiff now that they're going to go down," Sharpe told BBC Radio Wales. "But if they can give [Solskjaer] a couple of quid in the summer, I think he'll get them straight back up next year and have them playing better and be stronger for it."
Cardiff have seven games left to play in their campaign.