1.verbTo maintain order among spectators encircling participants in a prizefight or a performance and keep them from coming too near the participants; to keep the ring.
2.verbTo be a spectator at a fight; to watch other people argue.
3.verbTo oversee a situation while attempting to remain uninvolved in it.
"Police held the ring during the protests."
4.verbOf a prizefighter: to hold one's own during a fight; to continue winning a series of fights.