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MIX dry gelatin mix, apple juice and water in Dutch oven. Bring to boil on medium-high heat. Cook until gelatin is completely dissolved, stirring frequently.
ADD peaches; cover pan with lid. Reduce heat to medium-low; simmer 15 to 20 min. or just until peaches are tender. Remove peaches from liquid; discard liquid.
SERVE peaches warm or cover and refrigerate until ready to serve. Top with the raspberries and whipped topping.