The Reds suffered their third defeat in a week as Paul Lambert’s men stunned Anfield.
It means Liverpool have only the Premier League title to fight for but are ten points behind leaders Chelsea.
And Klopp admitted his team deserved to be beaten.
Liverpool player ratings against Wolves
Sat, January 28, 2017
Click through the gallery for the Liverpool player ratings against Wolves
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GK: Loris Karius – 5: Defenders let him down but weak for both goals
Liverpool boss Jurgen Klopp
He said: “We’ve caused the problems by ourselves in this game today. It was obvious that we caused them ourselves.
“We can’t forget to say that Wolverhampton did really well. They scored the first goal and then defended well, had the counter attacks. It was a good plan. I can see this.
“But we should have played better 100 per cent, but we didn’t. So that’s a fair result.”