Among the given options, the correctly spelled word is "Sovereignty."

1. Itinarary: This is the misspelled word. The correct spelling is "Itinerary," which refers to a planned route or journey.

2. Greivance: This is the misspelled word. The correct spelling is "Grievance," which means a complaint or resentment about a real or perceived injustice.

3. Sovereignty: This is the correctly spelled word. It refers to the supreme power or authority of a state or governing body to govern itself.

4. Rennaissance: This is the misspelled word. The correct spelling is "Renaissance," which denotes a period of renewed interest and creativity in art, literature, and culture that occurred in Europe during the 14th to the 17th centuries.