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A first-half goal by Luka Modric was cancelled out by a Fidel Chaves penalty in the second half to ensure that Real Madrid and Elche shared the spoils at the Estadio Martinez Valero on Wednesday night.
In what was an emphatic start to the game, Real Madrid came roaring out of the blocks and fashioned their first chance as early as the third minute.
Spain international Lucas Vazquez put in a great cross into the box but an unmarked Toni Kroos somehow managed to head wide from six yards.
Their sustained pressure continued, and Marcelo hit the bar with a right-footed shot after some good interplay with Casemiro.
Real Madrid soon got the lead their start deserved when their high press saw them win the ball up the field with space left behind.
Marco Asensio charged forward and hit a perfectly struck shot that rattled the bar, giving us the rare sight of Luka Modric heading the ball into an unguarded net on the rebound.
This was the first headed goal by the Croatia international since he scored for Tottenham Hotspur against Wigan in the FA Cup in 2009.
This goal was the difference between the sides in the first half, and Real Madrid went into the break in the ascendancy.
The hosts, however, came out for the second half in high spirits and were awarded a penalty when Dani Carvajal was adjudged to have pulled down Antonio Barragan in the area.
The incident left referee Jorge Vazquez with no choice but to point to the spot. Chaves buried the ensuing penalty beneath the dive of Thibaut Courtois.
Emiliano Rigoni was the brightest spark in the Elche team. The Argentine created a chance for Lucas Boye who struck the post after some good footwork in the box on the hour mark.
Real Madrid cranked up the pressure in the dying stages of the game, with Toni Kross finding Carvajal with an excellent cross-field ball from 35 yards. The defender showed great technique to control and strike a left-footed shot that was well-saved by Edgar Badia.
The Elche goalkeeper was called into action almost immediately when he saved a shot from Sergio Ramos at point-blank range to the disbelief of the Real Madrid captain.
Despite holding most of the possession in the dying stages of the game, the capital side failed to create clear-cut chances. The draw was hardly the result that Real Madrid would have envisaged.
Here, we shall have a rundown of five talking points from the fixture.
#5 Atletico Madrid have the advantage in the title race
With Barcelona flattering to deceive in Catalunya, the onus has fallen on the Madrid sides to set the pace in the title race.
Atletico Madrid have been the form team of the season so far, and Los Colchoneros are looking likely to win a second La Liga title under Diego Simeone.
Real Madrid's victory in El Derbi Madrileño earlier in the month had put them right back into the title race. However, this latest setback has handed the initiative back to their city rivals.
Atletico Madrid had earlier secured a hard-fought 1-0 victory over Getafe to go three points clear at the summit. Zidane's side knew that anything other than a win was simply not good enough.
As it happened, the defending champions failed to get the job done in Valencia. This stalemate means that Atletico Madrid will enter the new year two points clear at the top of La Liga with two games in hand.
#4 Real Madrid end the year on a disappointing note
An excellent run in December had seen Real Madrid win six consecutive games to secure progression in the Champions League and get back into the La Liga title race.
Los Blancos would have sought another victory to end 2020 on a high note but a spirited Elche side stopped them from doing so.
Real Madrid will be hoping to get back to winning ways when they host Celta Vigo in their first game of the new year.
#3 Elche's winless run continues but they prove good value for a point against Real Madrid
Elche came into this game on the back on an eight-game winless run in the league. Virtually nobody gave them a chance against Real Madrid in the pre-game analysis.
The difference in class between them and Los Blancos, as well as the champions' good run of form, meant that the capital side came into the game as overwhelming favourites.
Things seemed to be going to plan in the opening stages and when Modric put the visitors ahead, it looked like it would be one-way traffic.
However, the hosts rose from that initial setback and rallied to a well-deserved equaliser in the second half.
Despite playing against some of the biggest names in the world, the Valencians stuck to their gameplan and executed it to perfection.
The point was enough to take Elche one point clear of the relegation places, and Daniel Mato would hope his side can build on this positive result against the champions.
#2 VAR shows its usefulness
Ever since VAR became a permanent fixture in the game of football, the technology has divided opinions in almost equal measure.
Detractors point to controversial decisions and time wastage as reasons for its discontinuance, while supporters opine that it has helped eliminate refereeing errors.
In the game between Elche and Real Madrid, it was a case of the latter, as VAR helped overturn what would have been a highly controversial penalty.
A scramble in the box 37 minutes into the game saw the referee point to the penalty spot for a Real Madrid spot-kick amidst loud shouts of complaints by the Elche players.
As it happened, the ball had actually struck the arm of Karim Benzema in that passage of play, and VAR rightly pointed this out to the referee, leading him to change his initial decision.
This proved to be invaluable at the final whistle, because if Real Madrid had converted the penalty and gone 2-0 up, it was highly improbable that Elche would have gotten back into the game.
In a title race that looks likely to be decided by small margins, this error might have played a crucial role in deciding the season but VAR was on hand to ensure that justice was served.
#1 Real Madrid weak link Marcelo exploited by Elche
In the buildup to this clash, Zinedine Zidane admitted that Marcelo could leave Real Madrid owing to his lack of playing time.
The Brazilian was subsequently handed his first start since the 2-1 loss to Alaves in November but he hardly gave a performance to justify his place in the starting line-up.
Marcelo has been one of the greatest servants to Real Madrid. In his prime, he was by far the best left-back in the world but his performances have slowly declined in recent years.
Time and again, he has proven to be a weak link in the defence, evidenced by the fact that he has been present in all 10 La Liga defeats suffered by Los Blancos since Zidane returned to the helm in 2019.
His struggles at the back have become common knowledge, and Mato charged his players to focus their attacks on the Real Madrid left, with Rigoni the chief instigator of Elche's attacks.
Time and again, the Argentine got the better of his fellow South American. Almost all the chances created by Elche came when the 32-year-old was caught out of position.
In total, Marcelo lost possession 16 times for Real Madrid and looked tired towards the dying stages of the game, which laid further credence to those who believe he should not be part of the starting team.
