Context. XSS J1227.0-4859 is a peculiar, hard X-ray source recently positionally associated to the Fermi-LAT source 1FGL J1227.9-4852/2FGL J1227.7-4853. Multi-wavelength observations have added information on this source, indicating a low-luminosity low-mass X-ray binary (LMXB), but its nature is still unclear. Aims. To progress in our understanding, we present new X-ray data from a monitoring campaign performed in 2011 with the XMM-Newton, RXTE, and Swift satellites and combine them with new gamma-ray data from the Fermi and AGILE satellites. We complement the study with simultaneous near-UV photometry from XMM-Newton and with previous UV/optical and near-IR data. Methods. We analysed the temporal characteristics in the X-r...