Liebesträume No. 3 is the last of the three that Liszt wrote, and the most popular, and can be considered as split into three sections, each divided by a fast cadenza requiring dexterous finger work and a very high degree of technical ability.
The same melody is used throughout the entire piece, each time varied, especially near the middle of the work, where the climax is reached.
At the end, the piece dies down into a final chorded section, and has a broken chord for an ending, usually played slowly as if they were individual notes, rather than rippled.
Liebesträume No. 3 is a standard repertoire piece, and most concert pianists will have played or studied it.