diff --git a/.circleci/config.yml b/.circleci/config.yml
index c86f1ce8fafa..8ffb20c5b138 100644
--- a/.circleci/config.yml
+++ b/.circleci/config.yml
@@ -6,6 +6,7 @@ version: 2.1
 
 orbs:
   win: circleci/windows@2.4.0
+  macos: circleci/macos@2.3.3
 
 # -------------------------
 #        REFERENCES
@@ -46,7 +47,7 @@ references:
   #        Dependency Anchors
   # -------------------------
   dependency_versions:
-    xcode_version: &xcode_version "14.0.1"
+    xcode_version: &xcode_version "14.2.0"
     nodelts_image: &nodelts_image "cimg/node:18.12.1"
     nodeprevlts_image: &nodeprevlts_image "cimg/node:16.18.1"
 
@@ -160,10 +161,11 @@ commands:
     steps:
       - restore_cache:
           key: *gems_cache_key
+      - macos/switch-ruby:
+          version: "3.1.3"
       - run:
           name: Bundle Install
           command: |
-            source /usr/local/share/chruby/auto.sh
             bundle check || bundle install --path vendor/bundle --clean
       - save_cache:
           key: *gems_cache_key
@@ -965,6 +967,9 @@ jobs:
                     export USE_HERMES=0
                   fi
 
+                  ls -l
+                  pwd
+                  rbenv versions
                   cd packages/rn-tester && bundle exec pod install
 
       - run:
diff --git a/.ruby-version b/.ruby-version
index 49cdd668e1c8..ff365e06b957 100644
--- a/.ruby-version
+++ b/.ruby-version
@@ -1 +1 @@
-2.7.6
+3.1.3
diff --git a/Gemfile.lock b/Gemfile.lock
index 776cd69ccabd..cb2ef244ab13 100644
--- a/Gemfile.lock
+++ b/Gemfile.lock
@@ -1,9 +1,9 @@
 GEM
   remote: https://rubygems.org/
   specs:
-    CFPropertyList (3.0.5)
+    CFPropertyList (3.0.6)
       rexml
-    activesupport (6.1.7)
+    activesupport (6.1.7.2)
       concurrent-ruby (~> 1.0, >= 1.0.2)
       i18n (>= 1.6, < 2)
       minitest (>= 5.1)
@@ -54,9 +54,9 @@ GEM
       netrc (~> 0.11)
     cocoapods-try (1.2.0)
     colored2 (3.1.2)
-    concurrent-ruby (1.1.10)
+    concurrent-ruby (1.2.0)
     escape (0.0.4)
-    ethon (0.15.0)
+    ethon (0.16.0)
       ffi (>= 1.15.0)
     ffi (1.15.5)
     fourflusher (2.3.1)
@@ -65,8 +65,8 @@ GEM
     httpclient (2.8.3)
     i18n (1.12.0)
       concurrent-ruby (~> 1.0)
-    json (2.6.2)
-    minitest (5.16.3)
+    json (2.6.3)
+    minitest (5.17.0)
     molinillo (0.8.0)
     nanaimo (0.3.0)
     nap (1.1.0)
@@ -76,7 +76,7 @@ GEM
     ruby-macho (2.5.1)
     typhoeus (1.4.0)
       ethon (>= 0.9.0)
-    tzinfo (2.0.5)
+    tzinfo (2.0.6)
       concurrent-ruby (~> 1.0)
     xcodeproj (1.22.0)
       CFPropertyList (>= 2.3.3, < 4.0)
@@ -85,7 +85,7 @@ GEM
       colored2 (~> 3.1)
       nanaimo (~> 0.3.0)
       rexml (~> 3.2.4)
-    zeitwerk (2.6.0)
+    zeitwerk (2.6.6)
 
 PLATFORMS
   ruby
@@ -94,7 +94,7 @@ DEPENDENCIES
   cocoapods (~> 1.11, >= 1.11.3)
 
 RUBY VERSION
-   ruby 2.7.6p219
+   ruby 3.1.3p185
 
 BUNDLED WITH
-   2.3.22
+   2.3.26
diff --git a/template/_ruby-version b/template/_ruby-version
index 49cdd668e1c8..ff365e06b957 100644
--- a/template/_ruby-version
+++ b/template/_ruby-version
@@ -1 +1 @@
-2.7.6
+3.1.3