From my experience with D1/Ivy, the admissions office sets minimum academic standards for recruited athletes and then coaches are mostly free to fill however many slots they’ve been alloted for their sport with whomever meets those academic requirements. Most recruited athletes I’ve interviewed are well beyond the minimum, which sounds like your case as well.
I’ve been involved with situations where an applicant didn’t meet academic minimums, yet the coach argued for an exception to be made. That’s ahead of admission decisions being announced, however. If you are outright denied vs waitlisted, it’s hard for me to imagine that being reversed.
Waitlisted, during a year when admit slots later open up (usually because the college has less admits deciding to matriculate than predicted) might create an opening for you. Depending on the school, even if you didn’t come in as a recruited athlete the coach might give input to Admissions regarding your importance to the team – one more positive for Admissions to weigh. Or the coach might not, so it still comes back to what Mwfan1921 said about getting in touch with the coach, asking them how things work there, and keeping them apprised of your athletic performance plus continued interest in the college/sports program.