Do you know what kind of royal it is? King, Queen????

Roystonea regia

Here is a link that might be useful: http://www.junglemusic.net/palms/roystonea-regia.htm

Buy a B I G pot.

Yes, a big deep pot. mix good soil and sand, look it up on a search and find out what kind of watering it needs and I am pretty sure its full to almost full sun. Depending on where you got it,(if it came from inside a greenhouse or outside) I wold put it in filtered sun for a couple weeks so it doesn't burn.