Rick Ross: I Got My Engagement Ring Back

Rick Ross is the boss of the insanely expensive engagement ring he bought for his now ex-fiancee ... despite her insinuations.

Lira Galore posted a pic on Monday of her wearing the 11 carat, $350k rock ... just a day after they broke up.

We're told it's an old photo, and Rick has the ring firmly in his possession. We're also told they broke off the engagement at Rick's home and when Lira left she was not wearing the ring. We do not know the circumstances under which the ring left her finger for his hand.

If Lira wanted to keep the ring, it was a losing battle. In Georgia, an engagement ring is a "gift in contemplation of marriage" ... meaning if the couple doesn't get hitched, the guy gets it back.

Onward, but in the ring dept., not necessarily upward.