Abstract: We present a detailed, time-resolved analysis of the Fe K band of the Seyfert 1.5 galaxy NGC 3516 observed with XRISM. The 249 ks observation spanning ∼310 ks in elapsed time reveals an exceptionally rich and time-variable absorption spectrum. Six distinct absorption components are detected across multiple ionization states, spanning more than an order of magnitude in ionization parameter and a wide range of systemic velocities, from a potential inflow (+4300 km s<sup>−1) to a mildly relativistic ultra-fast outflow (−9800 km s<sup>−1). Despite their diversity, the components exhibit relatively small broadening (≲400~\rm km~s{-1}),</sup>implyingcomparableinternaldynamicswithinamediumofacomplexstructure.Time−resolvedspectroscopyrevealspronouncedvariabilityinthreehighlyionizedabsorbers,withFeXXV-FeXXVIfeaturesthatappearanddisappearontimescalesoftensofkiloseconds.Thisbehaviorlikelyreflectsacombinationofgeometricaltransitsofclumpygasandionization−statechangesdrivenbycontinuumvariability.AnadditionaltemporaryabsorptionfeatureintheredwingoftheFeKαline,consistentwithFeXXVabsorption,indicatesapossibletransientultra−fastinflowat\sim15000 km s<sup>−1 (∼5% c). Finally, the continuum light curve exhibits a tentative ∼40 ks oscillatory pattern, accompanied by correlated shifts of a weak, narrow Fe Kα emission feature, suggesting dynamic coupling between the continuum and the line-emitting region. Together, these results reveal that the nuclear environment of NGC 3516 is dominated by rapidly evolving, multi-phase gas flows, where accretion, ejection, and ionization processes are tightly coupled on sub-parsec scales.