The Collaborative International Dictionary of English v.0.48:

Recede \Re*cede"\ (r[-e]*s[=e]d"), v. i. [imp. & p. p.
   Receded; p. pr. & vb. n. Receding.] [L. recedere,
   recessum; pref. re- re- + cedere to go, to go along: cf. F.
   rec['e]der. See Cede.]
   1. To move back; to retreat; to withdraw.
      [1913 Webster]

            Like the hollow roar
            Of tides receding from the insulted shore. --Dryden.
      [1913 Webster]

            All bodies moved circularly endeavor to recede from
            the center.                           --Bentley.
      [1913 Webster]

   2. To withdraw a claim or pretension; to desist; to
      relinquish what had been proposed or asserted; as, to
      recede from a demand or proposition.
      [1913 Webster]

   Syn: To retire; retreat; return; retrograde; withdraw;
        desist.
        [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Recede \Re*cede"\ (r[=e]*s[=e]d"), v. t. [Pref. re- + cede. Cf.
   Recede, v. i.]
   To cede back; to grant or yield again to a former possessor;
   as, to recede conquered territory.
   [1913 Webster]

WordNet (r) 3.0 (2006):

recede
    v 1: pull back or move away or backward; "The enemy withdrew";
         "The limo pulled away from the curb" [syn: withdraw,
         retreat, pull away, draw back, recede, pull back,
         retire, move back] [ant: advance, go on, march
         on, move on, pass on, progress]
    2: retreat [syn: fall back, lose, drop off, fall behind,
       recede] [ant: advance, gain, gain ground, get
       ahead, make headway, pull ahead, win]
    3: become faint or more distant; "the unhappy memories of her
       childhood receded as she grew older"