Michael Beale is looking to bring in several players who could slot into the first team this summer following a disappointing season.
Rangers are set to finish the campaign empty-handed while their fierce rivals Celtic could end up winning the domestic treble.
A squad overhaul is expected at Ibrox over the summer and Palma is a player they have been looking at for a while.
According to Greek daily Sportime, the Glasgow giants remain very much in the race to take Palma to Ibrox in the next transfer window.
Rangers remain keen and have continued to push for a deal to sign the Honduran winger this summer.
They are locked in talks with Aris who are open to letting him go provided their financial conditions are met.
The Greek outfit want a fee of €5m before agreeing to sell Palma in the upcoming transfer window.
Beale is an admirer of the 23-year-old winger who has scored 13 times and laid on eight assists in all competitions this season.