I have listened to this song a dozen times. I love it and its bittersweet meaning. Hold back the river is referring to someone at there worst, about to cry. Its reffering to how we push people away when all in all, all we need is someone. James is telling the person to hold back their tears, because at that moment at the breaking point is when we really see who we really are. He is saying dont be afraid to cry because he is going to see who you really are, and look in your eyes and be there for you. No matter how lonely you get. "let us hold each other"