A lovely story of high adventure! I especially appreciate how well you established Talia as a villain. The backstory was very engaging, and did a great job of characterizing the two fairies, as well as Queen Esperanza. Valeria's character does come alive as well, throughout her (his?) interactions with everyone.
Speaking of which, one thing that was rather jarring was Valeria's gender. I don't know if the constant gender flipping was intentional, as a way to establish this character as genderfluid, but if that was the case, I think it could stand to be more clearly spelled out. As it stands, it sounded a bit confusing.
But overall, the story was very exciting and entertaining. With some good editing (I did catch a few typos/mistakes), it has the makings of a classic!