Ryan did very well to get down low to his right and save the 62nd minute spot-kick but the rebound was tucked away by Pedro Leon.
The 24-year-old from Sydney seems to be adapting well to life in Spain, as he gave his post-match interview in Spanish.
The Australian was third-choice keeper for Los Che at times last season, behind Diego Alves and Jaume Domenech, but now appears to have earned the faith of manager Pako Ayestaran to be his number one.
His cause was most likely helped by the drawn-out transfer saga linking Alves with Barcelona, to replace Manchester City-bound Claudio Bravo.
Valencia sporting director Jesus Garcia Pitarch said earlier this month the club will not stand in the way of Alves joining Barcelona.
"He was promised a pay rise in the past, but we cannot meet his demands," Pitarch said at a news conference.
"It would be great if he stayed, but we understand it if he were to leave."
That deal will reportedly not go through now, but Ryan seems to have taken over the number one spot regardless.