The Blues travelled to Anfield knowing that a defeat would mathematically rule them out of winning the title, yet goals from Demba Ba and Willian saw Jose Mourinho's side move to within two points of the Reds.
The West Londoners slumped to a 2-1 home defeat to Sunderland last week, and Lampard admits that he is thrilled over how his teammates responded to that setback.
He told Sky Sports News: "It wasn't mathematically impossible before today and certainly not now. We'll keep going. We showed that desire on the pitch.
"We were devastated last week against Sunderland because it was a home game and we wanted to win. But we've bounced back today."
Manchester City beat Crystal Palace 2-0 this evening to move within three points of Brendan Rodgers's men with a game in hand ahead of the final two games of the season.