Basically, it is enough to fill it with a shape gradient. Very, very simple.

Fill the background with red, create a new layer, set the shape with a pen, don't fill it, just stroke it, the thickness is up to you.

The bottom is white. Add projection and external light to the shape you just made, and the parameters can be adjusted at will. I won't send it

Create a new circle, arrange it, merge shapes, and add an external light source.

Create a new layer, frame it, fill the gradient and add a light red stroke.

Create a new ellipse, don't fill it, just stroke, the stroke color is deep red, and the thickness depends on the hue. Drag the layer below the top bar. Create a new oval rectangle at the top of the strip, set the radius, adjust it yourself, gradient it, and add relief.

Create a new circle, fill it with red, and you can add strokes directly. The original image has a gradient, so a larger circle is built on it without a stroke, gradient. Fill the crown in red with pen drawing, add a projection, and drag the layer under the red circle box.

Needless to say, people and ribbons, just drag the material in, and adjust the layer order yourself, and it's over.