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....the grey-cloaked people of Lórien rode towards the mountains; and those who were going to Rivendell sat on the hill and watched, until there came out of the gathering mist a flash; and then they saw no more. Frodo knew that Galadriel had held aloft her ring in token of farewell.
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I had always thought that the three rings of power were slowly loosing their power over time once the one ring was destroyed but not all at once. I had thought that Galadriel's final display of power from her ring of power to Frodo was a parting reminder to him about their talk and about the rings of power coming to and end.