Valkyrie, will you sing this world to sleep like a mother would a restless child? -> Valkyrie referring to a female character and sing the world to sleep referring to her goal of bringing peace to all of Helovia.
Fires have died and ash now nestle where they burned, charred remains of a once brilliant flame -> Reference to her history, where her previous home was burned by flames, and to her personality which has become slightly more troubled and muted because of everything that has befallen her.
When will you take up your spear again?
Have your forgotten the pride of your ancestors, kings and queens of promise? -> Her ancestors were kings and queens.
your time to rule has come. Will you take up the banner? -> Recently named queen.