I just did a search on the forum after running into the same issue, and realized the thread was fresh.
Seems to be a bug here.
Edit: I just submitted a bug report.
Yes, i tested with my test bubble app’s. this was not working.
I have submitted bug report 8 hours before.
Hopefully, we get resolved this issue by another 2 to 4 hours.
Great, yeah, I’m sure they’ll get it sorted out.
Hello folks, thanks for flagging! Our team is investigating this now. 
Hi Bubble,
Do we have a response on this please, this has been going on for a couple of days now.
We pay a LOT of money per month for our account and for a basic function like this to be left hanging is not good.
Reported this bug to bubble support #11607
Please update everyone.
This is also happening for all new users for their initial password setup.
This bug need to be a priority now.
Found alternative solution for this issue, Stored tiggered reset password token and user details into database, And checked token created date is less than 24 hours, if not then, ask to trigger reset password again via popup.
If passes all the condition and reset the password was done then change entry of password details status to false/no (this token was used- this was not used anymore).
Note: Token validation is working fine in Server-side.
