Ranieri's side are the favourites to win France's oldest domestic competition for a sixth time following a campaign that has seen them challenge Paris Saint-Germain for the Ligue 1 title in their first season back in the top flight.
Monaco, who won Ligue 2 last term, spent big in the close-season to bring in stars such as Radamel Falcao, James Rodriguez and Joao Moutinho, however, their quest to win the French league crown appears set to fall short.
Only relegation-threatened Guingamp stand in the way of a return to the Stade de France for Ranieri's men, but the Italian is not anticipating an easy passage through to the final, and has called for his players to show fight in order to keep their hopes of silverware alive.
"I'm sure Guingamp will play with freedom," Ranieri said.
"The pressure is on Monaco. They (Guingamp) have good, powerful players.
"Winning a title would be important. I want to see the desire to win in my players and to please the fans."
Jocelyn Gourvennec's team have won only four of their last 22 league matches and are yet to face a top-tier team in this season's Coupe de France.
