Hi there. First of all, I'm sorry you're going through this very difficult period.
I too failed my first clinical rotation, and anxiety was a huge component of that. I had never failed anything in school before, so this was a huge disappointment to me and made me question whether or not I would continue.
My school (it's a 4 year BScN) let me redo it, and I passed. That being said, the issues the other posters have raised are thought provoking and you (and I) should consider them. The thing is, I would give yourself one more chance. Not sure if that is possible with your program, but perhaps you, like me, were just not able to learn as quickly as they expect, due to your anxiety. I know for myself, repeated failures would be a much bigger sign that this is not the program for me than just 1 failure at the very beginning.