The footage, from what appears to be a supporters’ bus, emerged on Sunday afternoon when Rangers were in Dingwall for a 4-2 win over Ross County.
While the Ibrox side said an investigation would take place, the individuals have been identified just a day later.
As well as banning the fans involved, the club also confirmed no tickets would be given to the Rangers Supporters Club (RSC) they were travelling with.
The club statement said: “Rangers can confirm that an investigation is now complete in regard to a video circulating on social media yesterday.
“The individuals involved have been identified and will be banned indefinitely from all Rangers games.
“Furthermore, the RSC of which they were members and travelled with to the game, have been banned from receiving tickets for future fixtures.”
A Police Scotland spokeswoman confirmed the force “is aware of a video circulating on social media and officers are liaising with the club to make relevant enquiries”.
Celtic also released a statement on Sunday condemning the alleged chants and said other players for the club have suffered racist abuse in recent years.
The post on Twitter said: “If reports are accurate then such sickening and pathetic racist behaviour directed towards Kyogo Furuhashi deserves absolute condemnation.
“Unfortunately, a number of Celtic players in recent years have suffered similar racist abuse.
“As a club open to all, we stand firmly against racism in all its forms and we will give Kyogo our full support.
“All stakeholders must work together in tackling all forms of bigotry.”