In a large pitcher, combine the lime juice and sugar. Stir until the sugar is completely dissolved. If you prefer a less sweet drink, you can reduce the amount of sugar.

Pour the cherry juice into the pitcher and stir to combine. The cherry juice adds a beautiful color and sweet flavor that complements the tartness of the lime.

Add the cold water to the pitcher and stir well. Taste the limeade and adjust the sweetness if necessary by adding more sugar or cherry juice, according to your preference.

Refrigerate the cherry limeade until it's thoroughly chilled. You can also mix it with a good amount of ice cubes in the pitcher to chill it quickly.

Fill glasses with ice cubes and pour the cherry limeade over the ice. Garnish each glass with a maraschino cherry, a slice of lime, and optionally, a mint leaf for an extra touch of freshness.