I had this ring on for farming before joining a guild run of DC2.
After the first fight, I remembered I had it on, so I swapped it for another ring so I could get five piece bonus.
After the next boss fight, I realized I couldn't sprint! I lost the ability to sprint after taking off the ring. It may be related to the ring, or to something else, but I suspect the ring.
Reloading UI did not help. The only way I was able to regain ability to sprint was after dungeon was over and I ported back to overland.