The Glasgow giants signed the winger from Schalke last summer when Giovanni van Bronckhorst was the manager but he has made just six starts in the league this season.
Matondo was regarded as one of the signings that did not work out for Rangers but he has impressed in recent games.
He has started the last two fixtures and was particularly impressive in Rangers’ 3-0 win over Celtic last weekend.
Ferguson insisted that Matondo has shown in the last couple of games why Van Bronckhorst decided to spend money to sign him last summer.
He believes the Welshman has grabbed his opportunities well and has done enough to suggest that he has a future at the club under Beale.
The former Rangers captain said on the Go Radio Football Show: “Here is a guy who was in Siberia.
“He has been given an opportunity and you know what, he has shown why Gio did go and pay that money for him.
“He has shown flashes of it.
“I said it last week this is an opportunity for the players who have been on the fringes to go and show Michael Beale that they want to go forward.
“And up until the last couple of games, Matondo has shown that.”
Matondo is likely to get more opportunities in the last three games of the season before Beale takes a call on his future at Rangers.
