Ryan said he could now plan a similar path to the one taken by Hitotsu who was third-up into the Derby when successful in 2021.
"It's 15 weeks to the Derby, so I've already thought about it," Ryan said.
"We'll put him away now, but not for too long. He's a good doing, gross colt, but it's something to think about.
"We've got the pleasure to now concentrate on one race. He's in it and we can do what we want through to the Grand Final."
Ryan has long thought of Red Aces as a potential Derby colt after being purchased as a yearling.
Red Aces finished third over 1300m at Seymour on debut before jumping to 1800m on Saturday.
"My stepfather Jeff Gordon purchased him as a staying type and he's taken a little while, but the penny has really dropped," Ryan said.
"It's a big jump from 1300 metres to 1800 metres at his second start, but I just liked the way he knuckled down and his breeding kicked in over the last furlong.
"We've colt a nice staying colt on our hands.
"We galloped him on Tuesday and with the small noms, it was a no-brainer to come here, being its our home track and we could walk him over the road.
"He was aided by a brilliant ride. He did no work but there is a lot of improvement in him.
"It's exciting."
