Born in Madrid, Ricardo began his professional career at Atlético Madrid, working his way through the reserves and going on to represent the senior squad until 1998. Barred by José Francisco Molina, he only managed one first-team appearance which came during the 1996–97 season, in a 3–2 away win against Real Zaragoza on 2 June 1997. Subsequently, Ricardo was transferred to Real Valladolid, also in La Liga. He spent four years at the club, becoming first-choice in the 2001–02 campaign while also being selected as a member of the Spanish squad for the 2002 World Cup, though he did not play in the finals.
Manchester United
On 30 August 2002, Ricardo joined English club Manchester United in a three-year deal worth £1.5 million. Signed to provide cover for the injured Fabien Barthez and the inexperienced Roy Carroll, he found first-team opportunities rare, appearing in only four UEFA Champions League matches and just once in the Premier League. He marked his only appearance in the latter competition, against Blackburn Rovers on 19 April 2003, by conceding a penalty with his first touch after he fouled Andy Cole, but saved David Dunn's attempt in an eventual 3–1 win. On 23 August 2003, Ricardo agreed to a loan transfer to Racing de Santander for 2003–04 season – the deal included an option to make transfer permanent the following June. On his return to Spain, Ricardo was quoted in the Spanish sports daily AS as saying:
"It's not a backward step. When I received the offer I was delighted to have the chance to return to Spain. I missed the Spanish league... All I feel is gratitude toward Manchester. The club treated me very well. It was a lovely experience which was well worth it."
After helping Racing narrowly avoid top flight relegation, Ricardo returned to Manchester United and proclaimed his ambition to take the number one jersey from Barthez. However, he was never again picked for the first team following the arrival of Tim Howard and Carroll's improvement.
Osasuna
Ricardo was eventually released by the club on a free transfer, at the end of 2004–05. Subsequently, he signed for CA Osasuna on a two-year deal, becoming the Navarrese side's automatic first-choice and making over 100 league appearances in his first three seasons; he also helped them reach the semi-finals of the UEFA Cup in his second year by making 12 appearances, but lost his job midway through 2008–09 to newly signed Roberto. Ricardo regained his first-choice status in the following top division campaigns, rarely missing a game for Osasuna even though he was approaching his 40s. In the 2011–12 season, however, still under manager José Luis Mendilibar, he was demoted to as low as third-choice. Ricardo came out of retirement in January 2013 to rejoin Osasuna as an emergency signing, after backup goalkeeper Asier Riesgo suffered a foot injury. At 41, he was the second-oldest player in the history of the Spanish top flight, surpassed only by 48-year-old Harry Lowe of Real Sociedad in 1935. Ricardo quit the game for good at the end of the campaign, stating "I don't quit football, football quits me".
Coaching
Recommended by head coachJuan Carlos Garrido, Ricardo joined Belgium's Club Brugge KV in June 2013 as a goalkeeping coach. Near the end of October, a player licence was sought out for him as both the second and third goalkeeper were unavailable due to injury; over three years and starting in July 2014, he worked in the same capacity with the Japanese national team and Arsenal's academy in that Asian country. On 2 January 2018, Ricardo was appointed head coach of Spanish Segunda División B side Racing de Ferrol. On 13 June 2019, he was named manager of former club Valladolid's under-19s.
