The 27-year-old wants the club to get back to winning ways to repay their loyal fans.
The Gers lost 2-0 at home to Hibernian last night, dropping them down to third in the Scottish Championship and marking the club's third defeat in a row in all competitions.
And 27-year-old Rangers man Wallace admits it has been a disgusting period for the club and all those affiliated with it.
He has, however, urged those around him to stay positive, keep trying and, most importantly, give something back to the fans - who he readily admits the Rangers squad have not been rewarding for their loyal support.
Wallace told RTV: "There is no point in making it all doom and gloom - yes, it's a disgusting period we are going through just now, it's not been great, but we just have to keep trying, giving our best and hopefully that wee bit of luck will return and we can hopefully get the fans feeling happier again as it hasn't been great for them during this period and we haven't been rewarding them."
Rangers boss Kenny McDowall, meanwhile, also urged positivity from within the Gers camp after the Hibs defeat but it is easy to catch the blues if you're associated with the Scottish Championship side at the moment.
Rangers' next clash comes at Raith Rovers - the side that knocked McDowall's men out of the Scottish Cup only last weekend. Then follow trips to Falkirk and Cowdenbeath as the Gers try to get their campaign back on track.