The graph exploration problem requires a group of mobile robots, initially placed arbitrarily on the nodes of a graph, to work collaboratively to explore the graph such that each node is eventually visited by at least one robot. One important requirement of exploration is the {\em termination} condition, i.e., the robots must know that exploration is completed. The problem of live exploration of a dynamic ring using mobile robots was recently introduced in [Di Luna et al., ICDCS 2016]. In it, they proposed multiple algorithms to solve exploration in fully synchronous and semi-synchronous settings with various guarantees when $2$ robots were involved. They also provided guarantees that with certain assumptions, exploration of the ring using two robots was impossible. An important question left open was how the presence of $3$ robots would affect the results. In this paper, we try to settle this question in a fully synchronous setting and also show how to extend our results to a semi-synchronous setting. In particular, we present algorithms for exploration with explicit termination using $3$ robots in conjunction with either (i) unique IDs of the robots and edge crossing detection capability (i.e., two robots moving in opposite directions through an edge in the same round can detect each other), or (ii) access to randomness. The time complexity of our deterministic algorithm is asymptotically optimal. We also provide complementary impossibility results showing that there does not exist any explicit termination algorithm for $2$ robots. The theoretical analysis and comprehensive simulations of our algorithm show the effectiveness and efficiency of the algorithm in dynamic rings. We also present an algorithm to achieve exploration with partial termination using $3$ robots in the semi-synchronous setting.