The 23-year-old came through the youth system at Atletico, progressing through the various age groups before making his first-team debut in 2019.
Riquelme has only made two senior appearances for the Red and Whites, though, with the majority of his professional career to date spent out on loan.
The Spain Under-21s international represented Bournemouth on loan in 2020-21 in the Championship, before spending the 2021-22 campaign with Mirandes, scoring eight goals and registering 12 assists in 39 appearances during a successful spell.
Riquelme spent last season with Girona, meanwhile, scoring five goals and providing four assists in 35 appearances for the La Liga side.
There is currently a host of speculation surrounding the midfielder's future, with a number of clubs believed to be keeping an eye on Atletico's plans for him.
Riquelme has said that he wants to remain with Atletico for the 2023-24 campaign, but the midfielder's current focus is on helping Spain Under-21s at the Under-21 European Championship, with the national side in the quarter-finals of the competition.
"I have always said that it is where I want to be, but now I am focused on the European Championships," he told reporters. "I will do what they say. I imagine they will give me a few days, but I remain at Cholo's disposal.
"This year in Girona I have played a few games in the middle and I think I'm doing well. I will do what they ask me. When they assign me a position, I will try to defend it as best as possible."
Girona are believed to be open to discussing a permanent move for Riquelme, and the midfielder has refused to rule out joining the Catalan side on a long-term basis.
"I was very at home, and they treated me incredibly. It's a great club that's growing and I don't see any reason why I shouldn't return one day," he added.
Atletico have sold Geoffrey Kondogbia to Marseille, which has opened up a spot in the squad for a new midfielder, with Riquelme potentially filling that position next term.
Simeone's side have also released Matt Doherty this summer, with the defender failing to make his mark at the club following a move from Tottenham Hotspur.
The Red and Whites finished third in the La Liga table last season, one point behind runners-up Real Madrid and 11 behind the champions Barcelona.