Microring lasers feature ultralow thresholds and inherent wavelength-division multiplexing functionalities, offering an attractive approach to miniaturizing photonics in a compact area. Here, we present static and dynamic properties of microring quantum dot lasers grown directly on exact (001) GaP/Si. Effectively, a single-mode operation was observed at 1.3 μm with modes at spectrally distant locations. High temperature stability with $T_0～103\mathrm{K}$ has been achieved with a low threshold of 3 mA for microrings with an outer ring radius of 15 μm and a ring waveguide width of 4 μm. Small signal modulation responses were measured for the first time for the microrings directly grown on silicon, and a 3 dB bandwidth of 6.5 GHz was achieved for a larger ring with an outer ring radius of 50 μm and a ring waveguide width of 4 μm. The directly modulated microring laser, monolithically integrated on a silicon substrate, can incur minimal real estate cost while offering full photonic functionality.