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How might one assist swimmer after dip? Give up (5,2,3,5)

Ross

I believe the answer is:

throw in the towel

I'm a little stuck... Click here to teach me more about this clue!

'give up' is the definition.
(synonyms)

'how might one assist swimmer after dip?' is the wordplay.
I cannot quite see how this works, but
'one' could be 'the' (both can introduce a definite example of something) and 'the' is located in the answer.
This explanation may well be incorrect...

Can you help me to learn more?

(Other definitions for throw in the towel that I've seen before include "admit defeat" , "Withdraw" , "Cave in" , "charge nothing for additional item" , "surrender after trading blows?" .)

I've seen this clue in The Telegraph.
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