$\left(\mu_{0}=4 \pi \times 10^{-7}\, T\, m\, A ^{-1}\right)$
$STATEMENT- 2$ In the above situation, a current is induced in the ring which interacts with the horizontal component of the magnetic field to produce an average force in the upward direction.

$1^{st}$ Way : By using spring of smaller torsion constant.
$2^{nd}$ Way : By using a smaller coil
$3^{rd}$ Way : By using a stronger magnet
$4^{th}$ Way : By using a coil having fewer number of turns.