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rave (v.)

early 14c., raven, "to show signs of madness or delirium, to rage in speech," from Old French raver, variant of resver "to dream; wander here and there, prowl; behave madly, be crazy," a word of unknown origin (compare reverie). An identical (in form) verb meaning "to wander, stray, rove" dates from late 14c. in Scottish and northern dialect, and is probably from a Scandinavian word (such as Old Norse rafa). Sense of "talk about (something or someone) enthusiastically or immoderately" is recorded by 1704. Related: Raved; raving.

rave (n.)

1590s, "frenzy, great excitement," from rave (v.). Meaning "temporary popular enthusiasm" is from 1902; that of "highly flattering review" is by 1926 (when it was noted as a Variety magazine word). By 1960 as "rowdy party;" rave-up was British slang for "wild party" from 1940; the specific sense of "mass party with loud, fast electronic music and often psychedelic drugs" is by 1989.

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Definitions of rave from WordNet
1
rave (v.)
participate in an all-night techno dance party;
rave (v.)
talk in a noisy, excited, or declamatory manner;
Synonyms: rant / mouth off / jabber / spout / rabbit on
rave (v.)
praise enthusiastically;
She raved about that new restaurant
Synonyms: gush
2
rave (n.)
a dance party that lasts all night and electronically synthesized music is played;
raves are very popular in Berlin
rave (n.)
an extravagantly enthusiastic review;
he gave it a rave
From wordnet.princeton.edu