England midfielder Wilshere has been ruled out for three weeks with an ankle injury, and will also miss England's World Cup qualifiers against Montenegro and San Marino.
The 21-year-old has been in a rich vein of form, and his absence is a real blow for Arsene Wenger as his side look to try to make up the deficit to the top four and secure a Champions League place for next season.
But Arsenal were able to win 2-0 without Wilshere at Bayern Munich in midweek, and even though it was not enough to send them into the last eight of this season's Champions League, Rangel believes the result shows the depth of quality in their squad.
He said: "Arsenal are a team with a lot of very good players.
"Santi Cazorla has been a top player for them all season, and Theo Walcott has so much pace and he is scoring plenty of goals.
"Wilshere is out but they have other players doing well like Mikel Arteta.
"They are not just about one player, they are all very comfortable on the ball and it will be a game with a lot chances I think.
"I am sure it will be a great game for the fans but hopefully being at home can make the difference for us."
Swansea have won the last two Premier League meetings between the sides.
They sprung a major surprise when they beat the Gunners 3-2 last season, and scored another notable result when Michu's double gave them victory at Emirates Stadium in November.
While Swansea have reached 40 points, Michael Laudrup has challenged his side to finish an excellent campaign strongly.
They have lost just once at home to one of the Premier League's current top six since being promoted, and Rangel wants that form to continue during the run-in.
He said: "After losing at West Brom last week this is must win for us.
"We want to win as many games as possible even though we are safe.
"We know it won't be easy, even though we beat them at the Emirates. This is different and we need to get something.
"There is more pressure on them as they are fighting for a Champions League place, but we want to keep picking up points and at home we have done well and won plenty of games.
"The Liberty has always been a fortress for us and it needs to be until the end of the season.
"We have five home games left this season and we want to get as much out of them as we can."
Rangel signed a new deal last week to extend his contract through to 2016.
The announcement came the same day as Laudrup agreed a one-year extension to his contract, and the Spaniard admits the squad have been lifted by the news.
He said: "It is great for the whole squad to see he is happy here and to see a manager like the gaffer wanting to stay can only make you happy.
"From day one he has had our trust and belief and hopefully he can help us do great things in the Europa League and the Premier League."