Quite simply, a mechanical wave is unable to propagate through a vacuum, unlike electromagnetic waves, which do not require a medium, and can propagate through a vacuum. A wave, as you probably know, simply carries energy through a medium, and does not move the medium itself. Similarly, in the case of water waves, there is no overall displacement of matter, as you mentioned. When there occurs a disturbance in the body of water, which is the medium, water is pushed outwards, thereby creating what you refer to as “ripples”. There is no movement of water involved, there is just energy being moved through the water. At its most fundamental level, ${\text{H}_2\text{O}}$ molecules collide with each other, resulting in the ripple.