What do you mean by power with the ring? What ring? The One Ring? We really have no idea. With an Elven Ring? The same power Galadriel, Cirdan, and Elrond had - the protection/preservation of his community.
After the War of the Ring, Thranduil met with Celeborn to decide on their lands' boundaries. I presume he eventually headed across the sea eventually, like his son.
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...take counsel with thyself, and remember who and what thou art.
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