Meaning: The kite went down a little and then went up high again.
Choice of Words: Dipped means went down a little.
Meaning: The kite went down quickly, and then it flew very high in the air.
Choice of Words: Dive means to go down quickly. Flew means to move through the air using wings. Way up means a very long way up.
Meaning: The kite moved to a lower position and then moved to a higher position very quickly.
Choice of Words: Went down means to move to a lower position. Up means to move to a higher position. Real fast means very quickly.