not exactly color cycling per se, but you might be able to achieve a similar animation effect by overlaying an svg turbulence filter over a mask of the waterfall, like described here[0]
unfortunately the dynamic displacement mapping is not very performant and this technique is hard to pull off on mobile devices
unfortunately the dynamic displacement mapping is not very performant and this technique is hard to pull off on mobile devices
[0] https://redstapler.co/realistic-water-effect-svg-turbulence-...