It could look like this (default):
Variant 1:

Variant 2:

Variant 3:

Spawns a block of Life Essence (the liquid) on the topmost block (the creation of that block costs 1,000 LP, it creates the block if the block above the topmost block is air.
The ritual's effects affect players that are within the ritual range and in contact with Life Essence.
Removes debuffs and possibly grants buffs (will effects?).
Costs 10,000 LP to activate.
Consumes additional 1,000 LP per debuff removed.
It removes Soul Fray, though removing it costs 100,000 LP.

The ritual could come in different shapes depending on the facing.

• North (default): one of the above images
• East: Ground level pool (without border), if someone wants to make it a large pool of blood
• South: a "roof", Life Essence flows down the sides of the ritual, again without border stones.
• West: default variant but with border stones on ground level, for large pools.