E! News confirmed Thursday that Ryan, 57, and Mellencamp, 68, have called it quits after eight years of on-again, off-again dating.
"Meg ended it," a source said. "There were too many ups and downs and it wasn't healthy."
"She cares about John but it was time for her to move on," the insider added. "She knows she made the right decision and is happy."
Us Weekly reported the news Wednesday.
"She has no regrets," a source said of Ryan.
People said Ryan was spotted without her engagement ring Sunday at the Governors Awards. She was seen without her ring again Wednesday in Los Angeles.
Ryan and Mellencamp were first linked in 2011. The pair confirmed their engagement in November 2018 after sparking engagement rumors the month previous.
"She just doesn't want anything to do with me, and I don't blame her," the singer said. "I think it's because I'm a child. I throw fits, I gripe, I complain. I'm moody. Every bad thing that a fella can be, that's me."