And Rangers caretaker-boss Mick Harford believes Cranie will be a valuable addition to the squad as they look to climb out of trouble.
"He's a good signing for this football club," Harford told the club's official website. "I've looked at him for a very long while and I'm just delighted we've been able to get him here for three months.
"He's played at the highest level already this season and he's an England Under-21 international, so he's got great pedigree.
"He's versatile, but he prefers to play at centre half and that's where we'll use him.
"It gives me a decision or two to make in that department, but we needed to freshen it up to improve on all aspects of our defending."