The principality club avoided three straight games without a win in Ligue 1 as goals from Layvin Kurzawa and Lucas Ocampos secured all three points, though the Colombian striker was absent from the scoresheet once again.
Despite having not scored in his last four Ligue 1 games - his last goal in the top flight was way back on November 8 - Ranieri backed Falcao to rediscover his form and praised his squad as a whole for improving after a shaky start at the weekend.
"We were struggling during the first 30 minutes - Toulouse had two or three chances to score," Ranieri told reporters. "We improved after these phases of the game and played better.
"It was very important for us to secure three points.
"Everything is fine with Falcao - I spoke to him after the game. We have three games this week and he will play in all of them.
"He will continue to play and will get his rhythm back again - he still needs time to find that."
Monaco are second in Ligue 1 behind Paris Saint-Germain, who maintained their five-point gap at the top of the table with a 5-0 thrashing of Nantes.