It's up to him really but he looked shot against Martin and whilst he went the distance against Ruiz, Ruiz hadn't fought in 16 months and 17 months before that.
He is up there in age, wont win any title or beat any of the top 6 HWs out there. Soo.... yeah I feel bad for Ortiz, hes had quite a mismanaged career. Hasnt improved a bit under that trainer. By now his record should include fights against Wlad Klitschko, Joshua, Povetkin, Dillian, Pulev/Helenius, Peter, Haye/Adamek, Arreola/Chisora, but instead you see Kauffman, Flores, Cojanu, Allen, Martz, Polley, Rabotte. Cant help feeling he has unfinished business in his career. Chisora, Arreola, Parker, Dillian, Wallin may still be available to him.
If you beat Martin and go 12 rounds with Ruiz you don't have to retire. Say what u want about them they're both legit Top 20 HWs at this point which is sad to be fair but still reality. But it's probably smarter to retire at this point. He's 43. He's 1 or 2 fights away from getting brutally KTFO and hospitalized.