I don't sense any melodrama here, but I can definitely see the potential for an RPG battle soundtrack. It almost sounds like Custom Robo to me. :)
The track is also quite well mixed.
I suggest if you want the tone to be more exaggerated to fit with a theme of melodrama, you could exaggerate the arrangement to be more bombastic; Cheesy enough to be "so bad that it's good", if you will. Mind you, that is a delicate balance to strike. I personally think the song is good as is, and adding too much cheese could ruin the vibe of the song.
The only other suggestion I could make is, as the audio is submitted as a loop, that it doesn't resolve. If you are going to submit the piece a loop, as you currently have, it should cut off abruptly at the end in a way so it can smoothly loop over itself, rather than fading out.
Still, I think it's a cool piece with a cool title, too. More importantly, the idea is clearly expressed. Nice job. :)
More info about how I review music here: https://codefreq.newgrounds.com/news/post/1089806