Wambach complained to reporters about what she considered to be questionable yellow cards issued to U.S. midfielders
As a result of accumulating two yellows each, Rapinoe and Holiday will miss Friday's quarterfinal game against China. They were the only two U.S. players in danger of such a suspension.
"I don't know if they were yellows," Wambach said. "It seemed like she was purposefully giving those to the players she knew were sitting on yellows. I don't know if it was just a psychological thing, who knows?"
According to Reuters, Wambach could receive a reprimand from FIFA for her comments.
Holiday received her yellow card in the 17th minute and Rapinoe got hers four minutes before halftime.
"I think I got it for an accumulation of calls, all of which were questionable, I felt," Rapinoe said.
"I guess you could say I accumulated all those fouls so that's worth a yellow card, but [Holiday] got her yellow on her very first foul of the game so I didn't think that was fair."