Extract the cherries, place on the layer above the water

Immerse the cherries to the water by duplicate the water layer on top of the cherries layer, then use the low opacity eraser to erase the water area on the upper halves of the cherries

Make the water splash: by change the blending option of the new layer: Inner shadow (opacity: 100, Distance: 5, Choke: 30, Size: 1); Bevel and Emboss (Style: Emboss, Technique: Chisel Soft; Depth: 200; Size: 10, Soften: 5; Angle: -144, Altitude: 42; Highlight: White 100%, Shadow: 0). The setting can be slightly change in term of light direction in Bevel and Emboss, depend on the image you work on.

Create different layer to add the water splash because in the same layer, they will be merged with each other. Some layer can be increase in intensity by duplicate the layer several time. The shadow in Bevel and Emboss setting can be set with the value higher than 1 and pick the dark blue color on the water for this shadow.

Different layer of water splash can be different in the bevel and emboss setting to make the variation. The water on the fruit is different from the other by adding the shadow along with the light direction, also the depth of bevel setting is lower (plus no inner shadow). After finish making the water splash, merge all water layer, apply the chrome filter with highest smooth but lowest detail. Change the hue setting to have water color similar to the source. Then apply the 0.1px Gaussian blur filter on the water splash, add some grain to fit the source. In the last step, I just balance the color and change the saturation, level. Experiment finished!