This bug happened to me twice in a one hour time frame. The first time, it happened minutes after spawning a new map. I jumped out of the water onto land and rose about 15 blocks into the air and could not go up or down. Though I could walk around horizontally.
The second time it was in a world generated many versions ago. I was launching into the air from water using trident w/ Riptide III enchantment. I rose to what looked like max build height and was stuck there as before. I could walk around but couldn't go up or down.
I saved the game, exited, and reloaded the map to find I was on the ground, dead; presumably from fall damage.
Both times I was playing on the Oculus Rift with touch controllers.
Update: This happens roughly every 30 minutes. Saving/exiting and reloading map temporarily fixes issue. It also happens when exiting a boat on water.
Thank you for your report!
We're actually already tracking this issue at MCPE-39833, so we will resolve and link this ticket as a duplicate.
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