As described, having fallen directly onto the tip of your Apple Pencil, the transducer element (situated immediately under the replaceable tip) that interacts with your iPad screen may have suffered damage from the impact.
If the metal transducer element is intact/undamaged, you can try replacing the tip - ensuring that the replacement is screwed snugly into position; you should see a tiny gap, of about the thickness of a sheet of paper, between the tip and pencil body. Unless the replacement tip is properly positioned, the Pencil may not work properly - if at all.
If replacing the pencil tip does not resolve this issue, or the tip is not correctly positioned in relation to the pencil body when fitted, then your Pencil is likely to have suffered irreparable damage.
While the standard AppleCare limited warranty does not cover accidental damage, if you have purchased the optional AppleCare+ cover for iPad at the same time as purchasing your ApplePencil, AppleCare+ coverage extends to providing cover for your Pencil - including accidental damage.