Like the Reverb, the Ring has 1.4 Ghz single core processor, 4 inch screen, 5 MP main camera with LED flash and 1.3MP front facing camera. The main differences seem to be that Ring has a more conventional shape (the Reverb's pointy chin is gone) and a physical center home button instead of a capacitive one. Also the Ring runs Android 4.1 Jelly Bean whereas the Reverb comes with 4.0 ICS but is upgradable to Jelly Bean.
One plus for the Ring is that its list price is $179.99 vs. the Reverb's $199.99. On the other hand the Reveb is currently on sale for $129.99 with free shipping at Amazon.
Update 6/17: The Samsung Galaxy Ring is now available on the Virgin Mobile site for $179.99
If the Galaxy Ring doesn't excite you, rumor has it that Virgin will also be launching the LG F3 sometime soon. The F3 is an LTE phone with 1.2 Ghz dual core processor, 4" 800x480 px screen and a 5 MP camera. It's also supposed to have excellent battery life thanks to a massive 2,460 mAh battery. The Sprint version of the F3 has been announced and is launching June 14 but the Virgin Mobile F3 hasn't been officially confirmed yet so we don't know the price or release date yet. I expect the F3's price to be close to the Samsung Galaxy Victory 4G LTE's $249.99 list price as both phones have very similar specifications.
Sources: HyperLink, @evleaks