My parrot fell from his perch about 5 feet. It took a while for me to realize there were drops of blood on the floor and on my shirt. I look at my bird and realize theres blood dripping from the tip of his beak. I'm quite certain he bit his tongue upon falling. Maybe his beak fractured? There isn't a crack on the outside though so I really think he bit his tongue.

Its a full grown 10 year old scarlet macaw, big bodied.

Approximately 10-15 full drops of blood so far, including the ones on my shirt. He's not freaking out or anything, the cute little guy is still playing with his own tail feathers, but I can see that he's drinking his blood and moving his tongue around. So its probably way past 10-15 drops.

Should I bring him to the vet? Go on standby and observe for a few days first maybe? Please help, this is worrying me.

This is a hard call..If the bleeding stop I would just watch him for a few days closely.
I have had a few birds get in fights and the tongue did get bitten ..it healed just fine
Make sure he has clean water..maybe change it twice a day..He may not eat so much either..give him some softer foods he can tear..Nut cracking may be out for awhile

run a bird shelter and rescue

try and soak some of it up with something and wait like till tommorrow if it continues, take him to the vet because if continues he may have too much blood loss or something else. Good luck poor birdie , I FEEL SO BAD :'(