Water ripple effect

You could try using the Underwater or Wave filters in the Distort category, or if you have footage of actual water ripples, you can use the Bump Map filter, you would use the footage as the Map Image for the filter.

I'd also do a web search for "water ripple effect Apple Motion", I found a few tutorial videos that show different approaches to achieve this type of effect.

How are you doing with this? Have you been able to get the effect you want? Underwater and Wave don't exactly match the example you provided.

You're welcome!

I don’t see any problem with applying Fox’s effect on a png image. Can you tell us more about what the problem was?

Try out the SC Waves Effects. You can download them here:

https://fcpxtemplates.com/downloads/

Straight Waves (most like your example)

Straight and "choppy" waves combinded.

The ultimate speed of animation will depend on the lengths of your clips, but it is adjustable up to a point. You can adjust various features of the effect and you'll have parameters that can be keyframed to "fade in/out" the effect.

I encourage you to open the effects in Motion to look around. They are not complicated in the sense that there is a whole lot going on.

Hope they're what you're looking for. (Please let me know when you've downloaded them! - TIA)