The 18-year-old is technically a Manchester City player and will join the Premier League champions in January.
However, River are hoping they can somehow get to hold onto Echeverri for another year.
“Some players are ready to make the jump to Europe and others are not,” said boss Marcelo Gallardo, via TyC.
“Claudio is a very young boy, he still needs to develop in Argentinian football, he still needs to finish developing his physique and then he has all the technical qualities to be a great footballer. He’s in a process of development which is normal, he is only 18 years old.
“I hope we can keep him for another year and that he leaves in better conditions. Today it is clear that City have already paid his fee, he is on loan until the end of the year and River have to accept it. If City give us the chance, I’d love to keep him for another year, but it’s not up to me.”