It takes about 90 minutes to complete a low earth orbit. A rocket can't hover in place for 90 minutes at the same altitude, then increase its altitude by its height and repeat. It doesn't have enough fuel for that.
Go the other way. Attain maximum altitude and then descend slowly. You don’t need to do this with just one rocket. This would be a clearing exercise composed of multiple rockets.
Go the other way. Attain maximum altitude and then descend slowly. You don’t need to do this with just one rocket. This would be a clearing exercise composed of multiple rockets.