If my ancestors were royalty, does that make me royalty too?

My ancestors are traceably royal from 950 until 1918--there is no question about whether they were royalty or not. By the 20th century, my ancestors had intermarried and migrated to Imperial Russia, but with the exception of my great-grandmother, all of my other Russian relatives were killed in the revolution. My famiy hadan agreement with the Romanovs (i think this was extremely common for Russian nobility) that all of their descendent is perpetuity would bare the title "princess" or "prince." my cousins and i were joking around, but now wer are actually kind of curious: even thogh we are only 1/8th royal & Russian is no longer under Imperial rule, do we could as royalty?