At first the album did not have much commercial success, being practically discontinued in a few months. But Jesus Quintero, de Lucía's representative at that time, and several other journalists were determined that "Entre dos Aguas" should be heard on the radio. They convinced the record company to edit it as a single, going on sale in 1974. As a single, "Entre dos Aguas" sold more than 300,000 copies, being certified Gold in 1976, and spent 22 weeks at the top of the sales charts, catapulting de Lucía's career. After the success of the song as a single, the label reedited the album Fuente y caudal in 1975, and it was released in cassette format in 1981 and in CD format in 1987. Likewise, the song was included in several compilations.
"Entre dos Aguas" is considered a masterpiece of flamenco, being the most popular and well known song of de Lucía, both in Spain and internationally. However, it was not a song written over time, but an improvisation that de Lucía was asked by producer José Torregrosa to perform at the time of recording, since he considered the album to be incomplete. Apparently, de Lucía used other references to improvise the song, such as the song "Te estoy amando locamente" by Las Grecas, as well as "Caramba, carambita" by Los Marismeños (which de Lucía co-wrote), where the similarity with the latter to "Entre dos aguas" can be seen more clearly.
A cover version was recorded by Armik in his 1995 Rain Dancer album.