Float layering

This is a paragraph containing within it a float about here

This is a float. This is a float. This is a float. This is a float. This is a float. This is a float. This is a float. This is a float. This is a float. This is a float. This is a float. This is a float. This is a float. This is a float. This is a float.

(X). This paragraph contains a float. It also has
some relatively positioned text that overlaps the float.

This paragraph has a negative text-indent and a negative margin-top, so the beginning of the text should overlap both the previous paragraph and the float.