
I feel like it’s clear the villainess is the empress. You could pose her mother as a choice but I’d say she’s too busy with her own pity party and narcissism to pose much of a threat, whereas we’ve seen clearly from the remembered timelines that the empress harbors real true resentment and a desire to force submission either on their house or Ines specifically. A third character being the villainess would be completely out of the blue.

If I'm not wrong it's...
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Alicia, she's the one who's been messing wt Ines since her 1st lifetime, not only wt her but also with oscar and many other innocent women, the last part i justread it in a forum where the whole novel is already spoiled
(English's not my first language so srry in advance if sth don't makes sense(? )

Spoiler
He has one last chance to be reborn. Ines doesn’t have the option of suicide anymore because she went from 26 to 16 then 16 to 6. If she commits suicide again, she cannot regress 10 years from 6 years old. In any case, this is the timeline where old scores from the first timeline will be addressed especially since there will be a repeat of the same threats from the first timeline. It’s kind of like a showdown between Ines/Carcel vs Alicia/Oscar.
The crown prince has memories of the past too