The Princess and the Queen / Fire & Blood
Born 97 years after Aegon's Conquest, Rhaenyra was the only living child of King Viserys I Targaryen and his first wife, Queen Aemma Arryn, after the deaths of her infant brothers. She was known as the youngest dragonrider, claiming Syrax when she was seven years old and developed a close relationship with her father. Rhaenyra was also enamored by her uncle, Daemon Targaryen, a rebellious figure known as the Rogue Prince. At one point, Rhaenyra was hailed as the 'Realm's Delight' due to her physical beauty.
Following the death of her mother and brother Baelon during childbirth, Viserys is left without a son, and names Rhaenyra as his heir to the Iron Throne and the Seven Kingdoms and the Princess of Dragonstone. She is wed to the son of Corlys Velaryon and Rhaenys Targaryen, Laenor Velaryon; however, it is a marriage of convenience to strengthen the ties between the two Houses as Laenor is homosexual and Rhaenyra is romantically interested in the Kingsguard member Criston Cole. She later has an affair with the knight Harwin Strong with whom she has three bastard sons, Jacaerys, Lucerys, and Joffrey, all of whom were claimed as legitimate sons of Laenor.
After Laenor's death, Rhaenyra wed her uncle Daemon and had two sons, Aegon and Viserys, and a stillborn daughter named Visenya. Rhaenyra vowed for her son Lucerys' claim to the Velaryon seat of Driftmark; however she was rebuffed by councilmen and Velaryon kinsmen alike on the validity of his claim due to suspicion that he was the bastard son of Harwin Strong. Viserys has the tongues of the men cut out.
After the death of Viserys I, the Dowager Queen Alicent Hightower takes part in a coup to overthrow Rhaenyra's claim to the Iron Throne, deeming her unfit to rule and arguing she should come after her sons in the line of succession due to her sex, and instead have her son Aegon II Targaryen crowned instead. This leads to a war of succession and civil war known as the Dance of the Dragons. Rhaenyra is crowned as queen by her supporters, known as the 'Blacks', on the island of Dragonstone, while Aegon II is formally crowned as the ruler of the Seven Kingdoms in King's Landing.
Soon thereafter, Rhaenyra's son Lucerys Velaryon with his dragon Arrax, and her half-brother Aemond Targaryen with his much larger dragon Vhagar, both fly to Storm's End to seek allegiance from Lord Borros Baratheon. A fight between the two ensues in the skies of Shipbreaker Bay, resulting in the death of Lucerys and his dragon. This enrages Rhaenyra and as revenge, Daemon hires the assassins Blood and Cheese to kill Aegon II's eldest son and heir apparent Jaehaerys in a "son for a son" ploy. This leads to both parties halting any chances of resolution and engaging in open warfare with Alicent's faction known as the 'Greens', the color of House Hightower.
After some early Green victories during which she loses her oldest son and heir Jacaerys, Rhaenyra successfully takes over the capital of King's Landing, expelling Aegon II, but her reign is short-lived. Her half-year rule sees her imposing harsh taxes, due to the treasury being secretly emptied by the Green's supporters, as well as her growing paranoia after the death of her husband Daemon, and summary executions of perceived traitors, triggering a violent riot in the capital. Mobs of starved and frustrated capital citizens storm the dragonpit, killing most of the Blacks' dragons alongside her son Joffrey, forcing her to escape back to Dragonstone. On her way to Dragonstone, Rhaenyra is betrayed and brought before Aegon II, who has her killed by having his dragon Sunfyre burn her alive and eat her in six bites in front of Aegon the Younger.
The war continues after Rhaenyra's death, with her Black supporters rallying behind her fourth son, Aegon the Younger, despite the latter being imprisoned as a hostage by Aegon II. Following Aegon II's death by poisoning, he is later freed and crowned as King Aegon III Targaryen, ending the conflict. However, the Black's victory is overshadowed by the fact that all but four dragons were killed during the war, eventually leading to their extinction two decades later.
House Targaryen, continuing through Rhaenyra's direct family line, reigns for the next 150 years, until it is overthrown by Robert Baratheon, leading to the events in A Game of Thrones.