Aribo has become a key man at Ibrox since being tempted to the club by former manager Steven Gerrard and his performances for the Gers have won plaudits.
Crystal Palace are now eyeing Aribo as a replacement for Conor Gallagher, who is on loan at Selhurst Park from Chelsea and expected to return to Stamford Bridge in the summer.
Rangers, who sold Nathan Patterson to Everton during the January transfer window to kick-start their player trading model, are prepared to sell Aribo.
However, it is claimed they would be looking for a fee in the region of £10m to sanction his exit.
Aribo only has 18 months left on his contract at Rangers and the summer window could represent the perfect time for the Gers to cash in.
He has been heavily involved for Rangers this season, first under Gerrard and then his successor Giovanni van Bronckhorst.
The midfielder has clocked 35 appearances across all competitions for the Gers this term, but has only contributed six goals.
