The exact meaning of recede depends upon its context. For example:
"We can't move back in until the floodwaters recede." — diminish and move away
"Her fear receded." — diminished
"The waves first advance and then recede." — move away
"The news story receded into the background as it was replaced by new stories." — received diminished attention
"a receding hairline" — diminished hair (each year the line where hair stops growing is higher)
The bulging flanks of row on receding row and tier above tier of bottles glinted with innumerable rubies, and among the rubies moved the dim red spectres of men and women with purple eyes and all the symptoms of lupus.
Forty-seven snubs by forty-seven hooks; forty-seven receding by forty-seven prognathous chins.
There are no more uses of "recede" in Brave New World.