The three red lights on the Ring of Light indicate that a General Hardware Failure error occurred. This would be a "General Hardware Failure" Try this :"Check the secondary Error Code:

Try restarting the console.

If restarting the console does not resolve the behavior, follow these steps:

Turn the console off.

Unplug all the power and AV cables from the console.

Unplug the power cord from the wall socket.

Firmly reconnect all the cables.

Turn on the console.

If these steps do not resolve the behavior, turn the console off, remove the hard drive, and then turn on the console. If the 3x Red LED error light is no longer displayed, turn the console off, re-attach the hard drive, and then turn on the console.

Also examine the lights on the power supply. When you turn on the console, the power supply light should illuminate green even if the three lights on the RoL flash red." from here. If this did not resolve anything, it is time to either fix it yourself with these guides and parts, or have the motherboard professional reballed. Even that may only be temporary since this error is most commonly related to the Flip Chip design (long story and sure you are not that interested in it;-)