The short answer is yes. If you fall onto pointed dripstone, you will die, with a message saying that you were "impaled on a stalagmite".

If a stalactite falls from above, you can die as well. This death message will say that you were "skewered by a falling stalactite". Overall, navigating through areas with a lot of pointed dripstone can be quite dangerous.

Many players have also discovered that falling dripstone can be used to kill the Wither. This is a bit difficult to set up, so be sure to check out this video explaining how it works.

That's all there is to know about dripstone. This unique block is great for adding detail to any existing builds, so get out there and start exploring!