In a blender, combine the fresh lemon juice, granulated sugar, 1 cup of raspberries, and 1 cup of cold water. Blend on high speed for about 30 seconds until smooth and well-combined.

Using a fine mesh sieve, strain the blended mixture into a large pitcher, gently pressing with a spoon to extract all the juice while leaving behind the seeds and pulp.

Stir in an additional 3 cups of cold water into the strained lemonade mixture, adjusting sweetness by adding more sugar if necessary. Mix thoroughly until the sugar is completely dissolved.

In a separate chilled mixing bowl, whip the heavy whipping cream and vanilla extract on medium speed until soft peaks form.

Gently fold 1 cup of the lemonade mixture into the whipped cream using a spatula, mixing until fully blended.

Fill clear glasses with ice cubes, pour lemonade until glasses are about ¾ full, then top each glass generously with the whipped pink cream.