The most common and most likely answer to this crossword clue is the 8 letter word REIGNING
I've seen this crossword clue in Independent
R
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The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does REIGNING mean?
REIGNING verb- To exercise sovereign power, to rule as a monarch.
- To reign over (a country)
- To be the winner of the most recent iteration of a competition.
- To be a dominant quality of a place or situation; to prevail, predominate, rule.
- Currently ruling or holding a position.