1) The best RPO VR can do is 15 minutes. RTO is 100% dependent on your procedures for bringing things back up.
2) RPO of 0 can be achieved. RTO is dependent on prodcedures.
"are we able to perform vsphere repliction with out SRM"
Yes, but that's just replication then. It doesn't help you actually bring the VMs online on the other end (IP address changes, startup order, etc)