If you're focusing on honing your animation skills with the basics, then one suggestion I would make is to not have any materials on the model.
That way it's easier to see what is happening to the shape of the ball.
As far as the motion of ball is concerned, that looks nifty, like it has a life of it's own.
If you're trying to get it to animate in a specific way, then it will also help to state what goal you're trying to reach with this particular animation.
Then we know what observations to make in order to help you reach that goal.
Tell us what you're trying to do with the ball and we'll tell you when you're getting closer.
I do like that the file size of the video is relatively small.