You can use recursive CTE to achieve that:
DECLARE @childID INT
SET @childID = 1 --chield to search
;WITH RCTE AS
(
SELECT *, 1 AS Lvl FROM RelationHierarchy
WHERE ChildID = @childID
UNION ALL
SELECT rh.*, Lvl+1 AS Lvl FROM dbo.RelationHierarchy rh
INNER JOIN RCTE rc ON rh.CHildId = rc.ParentId
)
SELECT TOP 1 id, Name
FROM RCTE r
inner JOIN dbo.Person p ON p.id = r.ParentId
ORDER BY lvl DESC
SQLFiddle DEMO
EDIT - for updated request for top level parents for all children:
;WITH RCTE AS
(
SELECT ParentId, ChildId, 1 AS Lvl FROM RelationHierarchy
UNION ALL
SELECT rh.ParentId, rc.ChildId, Lvl+1 AS Lvl
FROM dbo.RelationHierarchy rh
INNER JOIN RCTE rc ON rh.ChildId = rc.ParentId
)
,CTE_RN AS
(
SELECT *, ROW_NUMBER() OVER (PARTITION BY r.ChildID ORDER BY r.Lvl DESC) RN
FROM RCTE r
)
SELECT r.ChildId, pc.Name AS ChildName, r.ParentId, pp.Name AS ParentName
FROM CTE_RN r
INNER JOIN dbo.Person pp ON pp.id = r.ParentId
INNER JOIN dbo.Person pc ON pc.id = r.ChildId
WHERE RN =1
SQLFiddle DEMO
EDIT2 - to get all persons change JOINS a bit at the end:
SELECT pc.Id AS ChildID, pc.Name AS ChildName, r.ParentId, pp.Name AS ParentName
FROM dbo.Person pc
LEFT JOIN CTE_RN r ON pc.id = r.CHildId AND RN =1
LEFT JOIN dbo.Person pp ON pp.id = r.ParentId
SQLFiddle DEMo
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