Riccia atlantica was first scientifically described in 1992 by Cécilia Loff Pereira Sérgio Costa Gomes and Sarie Magdalena Perold.

The spores are triangular-globular in shape, measuring 70–80 micrometres in diameter, and have a distinctive pattern of hexagonal compartments on their surface.

[2] The species is distinguished from its relatives by several features: its lack of protective hairs (cilia), its very small, transparent scales on the underside that do not reach the plant's edges, and its unique spore ornamentation pattern.

This region is characterized by its xerothermic (hot and dry) conditions, receiving less than 500 mm of annual rainfall, which falls primarily in winter.

[2] Under the influence of northeasterly trade winds but protected from cloud condensation by the low altitude,[3] it occurs alongside other short-lived bryophytes (mosses and liverworts) adapted to these harsh conditions, including Acaulon muticum, Fissidens algarvicus, Exormotheca pustulosa, Riccia nigrella, and Desmatodon convolutus.

[2] The population is naturally restricted due to its specialised habitat requirements, and complete extinction has been predicted by 2070 in some climate change scenarios.

The species faces additional challenges from the spread of coarse grasses, which can prevent colonisation of new areas by limiting available bare surfaces.

Conservation experts recommend careful protection of existing sites from tourism and agricultural impacts, along with regular monitoring of population status and habitat conditions.