Water sped around one (4)
I believe the answer is:
rain
'water' is the definition.
(I know that rain is a type of fresh water)
'sped around one' is the wordplay.
I cannot quite understand how this works, but
'one' could be 'i' (Roman numeral) and 'i' is found in the answer.
'sped' could be 'ran' (running is a kind of speeding) and 'ran' is found within the leftover letters.
No letters remain.
This may be the basis of the clue (or it may be nonsense).
Can you help me to learn more?
(Other definitions for rain that I've seen before include "The right" , "Falling water" , "Storm" , "Come down in showers" , "Falling moisture" .)