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*WARNING: spoiler*
I think the ring has two symbols, both chronological, overlapping each other throughout the anime.
First: The ring, when Takayuki buys it for Mitsuki, represents the happiness and warmth that is felt by Mitsuki.
Second: The ring, when seen by Akane while Mitsuki and Takayuki are together, represents their guilt, sadness and pain.
Third: The ring, when Mitsuki is playing with it, represents when Mitsuki is thinking of dropping the guilt, sadness and pain.
Fourth: The ring, when Mitsuki breaks up with Takayuki, is dropped into the cup represents her running away from the bad stuff.
Fifth: The ring, when Takayuki drops it accidentally when he sees Mitsuki, represents the bad stuff being droped by Takayuki as well and triggers the "good" symbol of the ring to reappear.
Lastly: The ring, in the very end when Mitsuki brushes her tears away the audience sees the ring, represents their renewed love and thus the happiness and warmth that are brought up as well.
That's what I thin kthe ring symbolizes.
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