Narya

In Tolkien's mythology, the Three Rings are magical artifacts forged by the Elves of Eregion. After the One Ring, they are the most powerful of the twenty Rings of Power.

The Three Rings were made by Celebrimbor after Sauron, in the guise of Annatar, had left Eregion. These were free of Sauron's influence, as he did not have a hand in their making. However, they were still forged by Celebrimbor with the arts taught to him by Sauron and thus were still bound to the One Ring. Upon perceiving Sauron's intent, the Elves hid the three from him. They were carried out of Middle-earth at the end of the Third Age, after the destruction of the One Ring.

The first ring, Narya, was adorned with a red gemstone, probably a ruby. The name is derived from the Quenya nár meaning fire. It was also called Narya the Great, Ring of Fire, Red Ring, and it is also known as The Kindler.

According to Unfinished Tales, at the start of the War of the Elves and Sauron, Celebrimbor gave Narya together with the Ring Vilya to Gil-galad, High King of the Noldor. Gil-galad entrusted Narya to his lieutenant Círdan, Lord of the Havens of Mithlond, who kept it after Gil-galad's death. According to The Lord of the Rings, Gil-galad received only Vilya, while Círdan received Narya from the very beginning along with Galadriel receiving Nenya from the start.

In the Third Age, Círdan, recognizing Gandalf's true nature as one of the Maiar from Valinor, gave him the ring to aid him in his labours. It is described as having the power to inspire others to resist tyranny, domination, and despair (in other words, evoking hope in others around the wielder), as well as giving resistance to the weariness of time.

...
Wikipedia