A 2-1 defeat to Celtic at Ibrox left the Gers six points behind their Glasgow rivals with six games left in the league campaign to play.
It seems highly unlikely that Rangers are going to be able to hunt down Celtic in the title race after Sunday’s result, and Ferguson conceded that it does not seem something that can happen this season.
However, he feels it would be wrong for the Rangers players to give up on the season and they will have to keep hoping that Celtic will give them another window of opportunity in the last six games.
But the Rangers legend conceded that he really cannot see Celtic slipping up with so few games left in the season.
Ferguson said on the Go Radio Football Show: “I did say a number of weeks ago that Rangers had to win every single game if they wanted to retain the title and obviously, we lost yesterday.
“If I am being honest, it is going to be really difficult and for me, it is Celtic’s to lose.
“But as a Rangers manager and players, you can’t possibly say that it’s over.
“You have got to keep going and hope that at some stage Celtic slip up.
“It seems very unlikely that Celtic will slip with six games to go and it was a massive result yesterday for Celtic.”
There is another Old Firm derby left in the league season when Rangers will travel to Parkhead before the end of the campaign.
Celtic and Rangers will also clash in the Scottish Cup semi-final later this month.
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