Yes and no. On the level of a theory true love does exist, the theory that humans can truly bring themselves into one another fully and completely is a concept that sounds plausible. However it is impossible to have in reality and would only be destructive for the people involved in an emotional sense.
Basically humans on a social level, are naturally unable to connect with each in something that is known by both philosophers and psychologists as the porcupines dilemma or hedgehogs dilemma
A number of porcupines huddled together for warmth on a cold day in winter; but, as they began to prick one another with their quills, they were obliged to disperse. However the cold drove them together again, when just the same thing happened. At last, after many turns of huddling and dispersing, they discovered that they would be best off by remaining at a little distance from one another. In the same way the need of society drives the human porcupines together, only to be mutually repelled by the many prickly and disagreeable qualities of their nature. (Schopenhauer, 1851)
This dilemma is caused by one of the main mental safeguards to the individual. Our emotional walls that we build throughout our childhood and adolescent years from social trial and error. In order for true love to take place, humans would have to tear down the walls to each others hearts, which while sounding again good in theory. Would be catastrophic in the emotional destruction of someone and the destruction of their own self. And without the destruction of the wall, you will both just drive each other away the closer you get.