Described as "sexy and provocative" by Jennifer Machin of Billboard, the song alludes to Lopez's relationship with Alex Rodriguez, with lyrics such as "Me tratas como una princesa y me das lo que pido.

Tu tienes el bate y la fuerza que yo necesito", which in English translates to "You treat me like a princess and give me what I ask.

"[6] Telemundo characterized the song as "an anthem for all the women out there that have put their time and effort in a relationship, and now all they're waiting for is that big rock on their finger.

[8] Rolling Stone writer Suzy Exposito noted, "J.Lo's latest streak of Spanish-language singles is crowned by the baile funk-infused track", describing "El Anillo" as "quite the bounce-back" from Lopez's "ballad-heavy" first Spanish album, Como Ama una Mujer (2007).

[15] It rose more than 88% to 16 million in audience impressions during the week ending July 8, 2018, which Billboard attributed to the release of the remix with Ozuna.

[21] According to Billboard, the fashion in the video consists of "sparkly outfits by international designers, fit for a gold-draped queen", complete with "elaborate crowns and opulent headpieces".

"[22] Chloe Herring of the Miami Herald noted that Lopez "laid her demands on the table" and "proves she's a Latin goddess worth keeping around" in "El Anillo".

[24] During the ”El Anillo” segment of the concert, Lopez and her dancers executed seamless choreography, which, towards the end of the song, featured an extended salsa dance break.

In addition to her dancers showcasing their own skills, Lopez showed off her own salsa steps, was flipped upside-down several times and ended the song by dancing on top of a grand piano.

In a review of the show, Althea Legaspi of the Chicago Tribune wrote: "She gave a fierce delivery of the song about having everything but that ring around her finger, enhanced by her adept band's Brazilian funk beats.

"[25] Elements of "El Anillo" were also included in Lopez's performances at the 2018 MTV Video Music Awards and the Super Bowl LIV halftime show in February 2020.