Many people are getting the ring of death. Most of them send in their XBOX 360 in order to get it fixed. There are methods that you can do before sending it in. I do not take credit for any of these methods. I am just sharing them with you.
I DO NOT TAKE ANY RESPONSIBILITY TO WHAT HAPPENS TO YOUR SYSTEM. THERE MAY BE RISKS INVOLVED. SUCH AS THE XBOX 360 STOPS WORKING OR VOIDING THE REPAIR CONTRACT.
Method One
1) Place the XBOX 360 on a flat surface.
2) Disconnect the hard drive, AV cables, and the power cord.
3) Plug in the Power Cord.
4) Turn on the XBOX 360.
5) Wait a few seconds and plug in the AV cable.
6) If the XBOX continues to have the rings please go on to the next method.
Method Two
1) Place the XBOX 360 on a flat surface.
2) Disconnect the hard drive, and the AV cables. Leave the power cord in.
3) Find two-three big towels. (I used two towels, and a blanket)
4) Turn on the XBOX 360.
5) Place towel under and wrap the XBOX 360 around. Place the other towel on top and wrap the sides. I decided to use a blanket, I placed it on the ground and wrapped the XBOX 360 in it along with the towels. The XBOX 360 should be completely wrapped.
6) Leave the XBOX 360 for 15 minutes. Try to be around it while waiting the 15 minutes. Sometimes the XBOX 360 might shut off, you will need to unwrap it and turn it back on.
7) Once you have waited 15 minutes, unwrap the XBOX 360. It should be very warm, shut it off and let it cool off for another 15-20 minutes.
Plug in the Hard Drive, and the AV cables.
9) Turn it on and ENJOY!
Method Two has definitely worked successfully. I am very happy that I did not have to send in my XBOX 360. I hope that this works for you!