The 21-year-old centre-back agreed a deal that will keep him with the Alex until the summer of 2017.
Ray made his debut in Crewe's Johnstone's Paint Trophy final victory in 2013 and has made 31 appearances for Steve Davis's side so far this season.
He has also won two international caps for Wales's Under-21 side.
Restore Data
| Team | P | W | D | L | F | A | GD | PTS | |
| 1 | Walsall | 19 | 12 | 4 | 3 | 35 | 19 | 16 | 40 |
| 2 | Port Vale | 20 | 10 | 6 | 4 | 26 | 19 | 7 | 36 |
| 3 | Crewe AlexandraCrewe | 19 | 9 | 7 | 3 | 24 | 16 | 8 | 34 |
| 4 | AFC Wimbledon | 19 | 10 | 3 | 6 | 31 | 16 | 15 | 33 |
| 5 | Doncaster RoversDoncaster | 20 | 9 | 6 | 5 | 28 | 23 | 5 | 33 |
| 6 | Chesterfield | 20 | 8 | 7 | 5 | 35 | 23 | 12 | 31 |
| 7 | Grimsby Town | 20 | 10 | 1 | 9 | 27 | 30 | -3 | 31 |
| 8 | MK Dons | 18 | 9 | 3 | 6 | 30 | 20 | 10 | 30 |
| 9 | Gillingham | 19 | 9 | 2 | 8 | 20 | 16 | 4 | 29 |
| 10 | Bradford CityBradford | 19 | 7 | 7 | 5 | 24 | 19 | 5 | 28 |
| 11 | Notts County | 19 | 7 | 7 | 5 | 25 | 21 | 4 | 28 |
| 12 | Salford City | 19 | 7 | 6 | 6 | 20 | 19 | 1 | 27 |
| 13 | Cheltenham TownCheltenham | 20 | 7 | 5 | 8 | 27 | 28 | -1 | 26 |
| 14 | Bromley | 19 | 5 | 9 | 5 | 23 | 23 | 0 | 24 |
| 15 | Fleetwood TownFleetwood | 18 | 5 | 8 | 5 | 24 | 23 | 1 | 23 |
| 16 | BarrowBarrow | 19 | 6 | 5 | 8 | 18 | 18 | 0 | 23 |
| 17 | Newport CountyNewport | 19 | 6 | 5 | 8 | 21 | 28 | -7 | 23 |
| 18 | Colchester UnitedColchester | 19 | 4 | 10 | 5 | 23 | 22 | 1 | 22 |
| 19 | Tranmere RoversTranmere | 19 | 5 | 6 | 8 | 14 | 26 | -12 | 21 |
| 20 | Harrogate TownHarrogate | 20 | 6 | 3 | 11 | 17 | 30 | -13 | 21 |
| 21 | Accrington StanleyAccrington | 19 | 4 | 7 | 8 | 26 | 34 | -8 | 19 |
| 22 | Swindon TownSwindon | 20 | 3 | 7 | 10 | 23 | 34 | -11 | 16 |
| 23 | Morecambe | 20 | 3 | 5 | 12 | 19 | 36 | -17 | 14 |
| 24 | Carlisle UnitedCarlisle | 19 | 3 | 5 | 11 | 15 | 32 | -17 | 14 |
| > League Two Full Table | |||||||||
