The manager also denied there had been a hitch in Gary Cahill's proposed move to Chelsea after the defender played possibly his last game for the Trotters.
Coyle revealed on Friday a fee had been agreed for the England international but his Chelsea counterpart Andre Villas-Boas then described the two parties as being "miles apart" in their negotiations.
Cahill received a great reception as he captained Bolton and made a point of clapping all sides of the Reebok Stadium after the game.
Coyle, who denied another club were involved, stressed there had been only one meeting between Cahill's agent and Chelsea, and insisted the deal was progressing as expected.
He said: "I heard what Andre Villas-Boas said the other day that they were a bit apart. He's obviously heard from the one meeting.
"They've only had one meeting with Gary's representative and then, with the games coming up, I had to make sure Gary was focused. Gary hasn't spoken to Chelsea yet.
"It's like anything else, if I got into a meeting with you, we're not going to shake hands after two seconds and agree, you're going to be apart, that's how negotiations work.
"Whatever comes in the next few days, it'll come, but if it doesn't then Gary remains a Bolton player."
Coyle also said he had had no doubts about playing Cahill today, adding: "I know his character, he was focused, I thought his performance was terrific. I knew mentally he'd be fine."
It was a crunch match for Bolton against one of their fellow Barclays Premier League strugglers and they rose to the occasion in the first half, taking the lead in the 22nd minute through full-back Ricketts' first goal for the club.
It was a particularly special moment for the full-back, who was making his return after 10 months out with a ruptured Achilles, and it was a goal to savour as he curled a beauty into the far corner.
Wolves' only first-half chance came when Jussi Jaaskelainen got the merest of touches to a Stephen Ward pile-driver to tip it on to the bar but they levelled four minutes into the second half when Steven Fletcher headed in Matt Jarvis' free-kick.
Both teams had chances to win it, with Wayne Hennessey saving well from Fabrice Muamba and Gretar Steinsson while Jaaskelainen twice denied Kevin Doyle late on and Tuncay Sanli headed against his own post.
It was Bolton's first draw since February but the point was not enough to prevent them sitting bottom of the table going into 2012.
Coyle said of Ricketts: "It was terrific for us all to see him back. I think it was a terrific performance. We had to make sure when we brought him back in it was the right time and he played very well, scored a wonderful goal."
The defender gave away the free-kick that led to Wolves' leveller for a foul on Fletcher that many thought was harsh, but Coyle had no real complaints.
He said: "If it was one of my players I'd probably have been screaming for the free-kick as well."
Of the result, the Scot said: "I'm disappointed because I thought it should have been three points. Our first-half performance was terrific, we limited Wolves to very few opportunities, and looked a threat ourselves, but we've given up a soft goal.
"We had chances, Hennessey made a couple of wonderful saves, as did Jussi. However, the way it finished, a couple of weeks ago we might have lost that game."
Wolves boss Mick McCarthy, who confirmed the club have signed Arsenal midfielder Emmanuel Frimpong on loan until the end of the season, was furious with his side's first-half performance and told them so at the break.
He said: "At half-time I wondered if we'd turned up. We were hopeless in the first half, yet the defining moment was a fingertip save from their goalkeeper. We played well second half, and we needed to.
"It's very, very rare that one of my teams deserves a volley for not getting in people's faces and closing down and tackling, but today we did. I thought we were being bullied for 45 minutes. I'm very happy with a point. It's two teams struggling to win games."