The 29-year-old is coming off a three-year, $30 million deal with the Tennessee Titans that ended this past season and won't take a pay cut on his next deal.
Ryan is still reportedly "entertaining all offers and will consider a short term deal," per Rapoport.
After four years with the New England Patriots that featured two Super Bowl titles, Ryan has been a key part of the Titans defense the past three years while starting all 45 games he's played.
He showcased impressive versatility in 2019, leading the team with 113 tackles while totaling 4.5 sacks, four forced fumbles and four interceptions.
The cornerback also played 99.1 percent of defensive snaps for the Titans last season, per Pro Football Reference.
During the postseason, he stood out with an interception of a Tom Brady pass he returned for a touchdown to seal the team's upset over the Patriots.
Despite his production, Tennessee doesn't plan to re-sign Ryan, according to Aaron Wilson of the Houston Chronicle.
The veteran should still have options across the NFL with teams always in need of high-level cornerbacks, but it's clear Ryan isn't going to settle for less than his value.