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wave; billow; ripple; breaker; swell
ups and downs
(something) advancing step by step; (something) surging forward inopposably; succession of changes
tendency; (new) wave
「波」 has other readings with different meanings.
海の波が高くて、泳げませんでした。
The ocean waves were high, so I couldn't swim.
人生には大きな波があるものだ。
Life has its big ups and downs.
海の波が岩にぶつかっている。
Waves are crashing against the rocks.