TOLKIEN HAD THE WORDS FOR IT: 18 THE RETURN OF THE SHADOW

He has less power over Elves than over any other creature: they have suffered too much in the past to be deceived or cowed by him now. And the Elves of Rivendell are Descendants of his chief foes: the Gnomes, the Elvenwise, that came out of the West; and the Queen Elbereth Gilthoniel, Lady of the Stars, still protects them. They fear no Ring-wraiths, for those that have dwelt in the Blessed Realm beyond the Seas live at once in both worlds; and each world has only half power over them, while they have double power over both.'
'I thought I saw a white figure that shone and did not grow dim like the others. Was that Glorfindel then?'
'Yes, you saw him for a moment as he is upon the other side: one of the mighty of the Elder Race. He is an elf-lord of a house of princes.'
'Then there are still some powers left that can withstand the Lord of Mordor,' said Frodo.
'Yes, there is power in Rivendell,' answered Gandalf, 'and there is a power, too, of another kind in the Shire.

the return of the shadow: the history of the Lord of the Rings Part 1