The possibility that ion beams could provide a free energy source for driving an ion/ion instability responsible for the ULF wave occurrence is investigated. For this, the wave dispersion relation with the observed parameters is solved. Secondly, it is shown that the ring-like distributions could then be produced by a coherent nonlinear wave-particle interaction. It tends to trap the ions into narrow cells in velocity space centered around a well-defined pitch-angle, directly related to the saturation wave amplitude in the analytical theory. The theoretical predictions with the observations are compared.