The most common and most likely answer to this crossword clue is the 2 plus 3 plus 2 plus 3 plus 2 letter word ON THE UP AND UP
I've seen this crossword clue in The Times
O
N
T
H
E
U
P
A
N
D
U
P
Buddy explains!
The straight part
We know that "in the ascendant" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case in the ascendant = on the up and up.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.