Hail forms due to thunderstorms carrying water upwards, and past their freezing point. As the tiny ice balls known as hail float around in the atmosphere, additional water freezing onto them causes them to grow.
Hail does go through the water cycle. Hail is a form of precipitation just like rain, sleet, snow and ice. Hail is a part of the water cycle and follows the same pattern as other forms of precipitation.
Hail can only help create rivers. It doesn't hail as often as it rains or snows, which comprises the majority of the water that flows to form rivers. However, when it does hail, the hail will melt and join the downward flow of water that creates rivers.
It will float. Its a rock. It actually depends on how much water you have, if you you tried float it in the ocean, it would obviously sink. But if you tried to float it on a gladd or bowl or water, it would float,
An object which is denser than water can float on water when it has a specific shape which lends it buoyancy. For example, a sheet of iron will not float on water but if the same sheet is bent in shape of a bowl, it can float on water.