Iron rain falls not only on Wasp-121b-2410, but on this planet too. I have found frozen iron raindrops in Georgia, USA.
Since I retired from industry in 1998 I have walked the highways, getting my exercise, picking nails, helping to reduce flat tires. On three occasions I have found where tractor trailers have lost wheel bearings due to overheating. The early stage of the process involves the rollers heating up and softening. The gap at top opens up and they fly out onto the road, badly deformed. They might be found over a mile long stretch of highway. Once the bearing inner and outer races are rubbing, molten steel begins forming and rimming the cavity. When the vehicle comes to a stop, the molten iron runs out. The early blobs are elongated with tails since the truck was still moving . It all comes out over 100 meters or so. When stopped and the last few drops fall out, they will squish slightly as they hit the ground, then solidify quickly. I have found dozens, some as small as 8 mm in diameter, 5 mm tall, 1.8 grams.