Templeton scored as the Gers brushed aside SPFL League One rivals Dunfermline 4-0 in the fifth round at Ibrox, and the Glasgow club's reward for that victory is a last-eight showdown with fourth-tier part-timers Rovers.
The Coatbridge club, who beat Premiership side Motherwell in the fourth round, are in the quarters for the first time since 1934. That gives Ally McCoist's men a great chance of booking a place in the semi-final at Ibrox for the first time since 2009.
And Templeton believes it is not impossible for the Gers to win all three of the competitions they are still involved in. Rangers are 23 points clear at the top of League One and will play Raith Rovers in the final of the Ramsdens Cup at Easter Road in April. He said: "Obviously, it [the treble] is a lot to ask for, but the boys are all desperate to win trophies and medals. That's what I came to Rangers for. I feel like we've got a good enough squad to do that."
Templeton was criticised for lacking ambition when he moved from top-flight Hearts to Rangers in a £450,000 move at the start of last season.
But the winger, who has enjoyed an upturn in fortunes after struggling earlier in the season, reckons the position the Ibrox club is now in vindicates his decision.
He said: "It [the criticism] is not so bad now. People know Rangers are a massive club and it's not something you can turn down.
"For all I know, I could have gone down south and never played and my career could have ended up a lot worse.
"I've been happy and it is good playing under the manager, and hopefully I can help get the club back to where it should be, winning trophies."
The 25-year-old has scored three goals in the last four games against Forfar, Arbroath and Dunfermline.
But he reckons Light Blues supporters have still to see the best of him and is looking forward to turning on the style between now and the end of the 2013/14 campaign.
He said: "I've struggled this season. I got a few niggly injuries in pre-season and when I did get back playing I wasn't at my best.
"I feel now I'm starting to get back to the way I know I can play. That's two sub appearances and two starts and I feel I've done well and I'm starting to get my match fitness back, too.
"Hopefully I can keep it going now. I'm feeling good and I think we have got a better squad this year. Dean Shiels is playing well, too. So it's good to link up with those kind of players and they make it easier for you.
"I definitely think I can get better. I've only done it in short bursts, 20 minutes or half an hour in some games.
"But I feel in the past two games I have done a lot more consistently over the full game and I think if I can keep doing that I will get better and better."