Update! The piercing stays!
Firstly thank all of you for your help and advice! Today I trialled a new positioning for my dick that prevented the ring from pulling against the frenum and no bleeding!
So the issue was, my underwear was too tight and I was letting the ring rotate to the left all day and rub, this caused the frenum to be forced to the left and bleed.
With this new positioning I reckon the ring is saved!
Genuinely thank you all so much for the advice, the pierced brotherhood is great!
Will update again soon!