Nice, but the pixeling is a bit messy.
The way you shade skin is overly smooth; the clothes and shoes look somewhat noisy. You'd do yourself a favor by reducing the color count, it would force you to make better ( = nicer + more efficient ) pixel clusters.
The anatomy and light basis are solid anyway, it's the specific pixeling techniques that you could refine.
Yeah I love Ragnarok Online's sprites! Trying to take some pointers from the best of the best.