Some that I have played in the past that sound similar. Out of these I would say MagnaCarta is the closest match combatwise. It is slightly similar to Shadow Hearts ring but with X, circle, square and triangle being pressed instead of just X.
Mario RPG games
Sands of Destruction
Breath of fire: Dragon Quarter
Dragoneer's Aria (This is only listed because of the guarding system which is a ring type. The rest of the combat is regular turn based)