Achieve geosynchronous orbital speeds at leo while moving relative to an electric field

Question

Would it be possible for an object to move at geosynchronous orbital speeds at LEO? Assume that a superconductive ring extending around the entire Earth existed at the same height as the ISS. Could an object move relative to the magnetic field instead of Earth's gravitational pull? Could the effect of gravity on the object reduce as the magnetic field strength increases? I'm attempting to relate magnetic field and orbital velocity.