A Matt Richards penalty earned injury-hit Ipswich a deserved point at Portman Road against Wolves.
The visitors took the lead in the 51st minute through Colin Cameron's deflected 30-yard strike.
But the home side hit back when Wolves' on-loan Gabor Gyepes brought down Nicky Forster in the box on 59 minutes and Richards netted the penalty.
Wolves' Seol Ki-Hyeon wasted the opportunity to snatch all three points when he blazed over on 85 minutes.
Ipswich boss Joe Royle
"I am ecstatic with a point in view of all our current problems.
"I'd have gladly taken a point before the start. That's not lack of ambition,
"I cannot fault the spirit of my players who battled to the very end. For us
to compete against teams like Wolves is going to be hard for us at the moment.
"We are in a transitional period and suffering injuries at the same time."
Wolves boss Glenn Hoddle:
"I have told the players they are going to under achieve if they cannot put a killer head on.
"Maybe I should change the way we train and make them run, run and run again until the penny drops.
"We play some lovely football and dominate teams away from home but we lack quality when finishing. It's as simple as that."
Ipswich: Price, Sito, Naylor, De Vos, Richards, Williams, Magilton (Horlock 53), Juan, Bowditch (Proudlock 53), Forster, Currie (Barron 87).
Subs Not Used: Supple, Clarke.
Booked: Williams, Horlock.
Goals: Richards 60 pen.
Wolverhampton: Postma, Edwards, Gyepes, Lescott, Naylor, Cameron, Huddlestone (Clarke 45), Kennedy, Seol, Ganea, Ndah (Anderton 45).
Subs Not Used: Oakes, Olofinjana, Craddock.
Goals: Cameron 51.
Ref: K Stroud (Dorset).
The BBC is not responsible for the content of external internet sites