Unless someone wrote a mouse emulation or driver the answer is no. There was a very special version of XP for such but I find most folk can't find it anymore. It's gone and rare to find.
We recently bought the Acer T232HL touch screen, as it is really offers a good deal with regards to price, resolution & touch. Our problem is we can't seem to make the touch functionality work in Windows XP.
We are aware that this is a multi touch monitor, and multi touch is not supported by Win XP,. However, we are only interested in getting single touch working with our Win XP.
We have verified that the (single) touch functionality worked quite fine on a Win 7 computer without any additional installs/drivers needed.
We have tried downloading drivers from Acer, but that didnt help. Even though the download page says the drivers are for Win XP, it seems the downloaded file actually only contains Win 8 drivers. Win XP would not accept this driver.
If anyone has been able to make this screen work with touch on Win XP (32bit SP3), I would be very happy to get your exact instructions for how to make it work. We would probably buy a bunch of these screens if we could get it set up to work with Win XP.
Link to the model at Acer:
Link to driver tried: