Here it is...the dreaded ring.
I had my blow dryer on full blast high heat for a good amount of time. I'm thankful for the picture proof, because otherwise I think I may have been unsure if it was actually fading. This next picture was taken about 15 minutes in. Not a significant change, but it was starting.
I had to leave the blow dryer on for a good 30 minutes and I moved it around so it would distribute the heat on that spot more evenly. Cade enjoyed it as he grabbed different toys and experimented with whether the blow dryer would be able to blow the items off of the table. This provided a good amount of entertainment for both of us, which was good since it took so long. As you can see from the picture below, there was still a faint water ring, but after refinishing the table with coconut oil (posting about this soon!), it was completely gone. I think that the faint water ring was actually just where the wood had dried out a bit.