How to extract xip archive using command line?

You could try:

xip -x [path to .xip file]

On macOS Mojave (not sure about other OS versions), navigate to the directory into which you’d like to expand the contents, then run xip --expand /path/to/xip.xip. For instance:

iMac:Applications jeff$ xip --expand /Users/jeff/Downloads/Xcode_11_Beta.xip