A method of transmitting and receiving a signal for a random access channel (RACH) procedure by a user equipment (UE) in a wireless communication system is disclosed. The method includes transmitting a message A including a physical random access channel (PRACH) and a physical uplink shared channel (PUSCH), and receiving a message B related to contention resolution in response to the message A. Transmission power for a retransmission of the message A is configured based on that a counter value related to the transmission power is incremented or maintained, the counter value is maintained based on that a transmission spatial filter related to the PRACH is changed for the retransmission of the message A, and the counter value is used for configuring the transmission power based on that the PRACH and the PUSCH are transmitted via the message A.