This paper addresses the issue for near-field (NF) localization considering amplitude attenuation, proposing a recursive rank-reduction (RARE) method for three-dimensional (3-D) parameter estimation of NF sources incident on a symmetrical cross array. The proposed method constructs several one-dimensional (1-D) spectral peak search estimators to obtain two-dimensional angle and range parameters. Initially, using the received data from symmetrical array elements in one axis, a 1-D spectral peak search estimator is constructed. The origins of two types of pseudo peaks within this estimator are analyzed, and then, corresponding pseudo peaks removal methods, namely the initial screening method and the recursive RARE method, are presented to obtain the estimate of the first angle parameter. Subsequently, the estimated results are fed into another 1-D spectral peak search estimator constructed from the original received data to obtain the range parameter. Finally, the same process is applied to the other axis to obtain the second angle and range parameters, followed by a parameter matching operation for 3-D parameters. Compared to existing NF source localization methods, the proposed method more effectively eliminates pseudo peaks, and demonstrates superior parameter estimation performance under conditions of small number of snapshots and low signal-to-noise ratio, as validated by several simulation results.