I'm thinking of giving my new girlfriend a ring that had sentimental value to another girl, is that wrong?

I have a ring that I bought for my fiance 3 days ago, and had I love you inscribed inside the band. She broke it off after receiving the ring, and I took the ring away from her and left. I now have another girlfriend that I love so much. Can I give her (my new girlfriend) this ring and ask her to marry me instead? Would that be wrong?