To dream of a waterfall is a symbol of release. Whatever you have been holding in during your waking life will soon be released. The waterfall is a physical representation of your life's desires and goals. Clear, cool waterfalls indicate a new lease on life.
If you dream of a waterfall cascading over you, consider your emotional state. Are you feeling overwhelmed? Have you been holding back your feelings? Face your feelings and your emotions as a step towards finding peace.