You can prevent this card from being attacked before you can use its effect by using "Pixie Ring".
Since it doesn't specify who has to control the "Saber" monster being destroyed by battle for its effect, you can give your opponent a weaker X-Saber monster and attack it with a stronger one, dealing damage to the opponent and still gaining the extra draw.
Using one copy of this card and two copies of "X-Saber Palomuro", one in the graveyard and one on the field will result in a draw loop.
Ram the "Palomuro" on the field into an opponent's monster with higher attack, destroying "Palomuro" and activating "Axel's" effect to draw one card. Then use the effect of the "Palomuro" in the graveyard, paying 500 life points and special summoning it.
Activating "Rainbow Life" earlier in the same turn will prevent the large amount of damage you would have taken from ramming with "Palomuro".
This loop could possibly become an OTK with Exodia as well.