Windows Xp Qcow2 -

qemu-system-x86_64 -m 1024 -hda windows-xp.qcow2 -cdrom en_windows_xp_professional_with_service_pack_3_x86.iso -boot d -vga std -usb -device usb-tablet

After installation, install virtio drivers for better disk/network performance:
Download from Fedora's virtio driver ISO. windows xp qcow2

# Download a pre-made XP qcow2 image (example – create your own legally)
wget https://example.com/xp-sp3.qcow2
XP does not natively support VirtIO disks. You must provide a floppy disk with the drivers during installation (press F6 during the text-mode setup). qemu-system-x86_64 -m 1024 -hda windows-xp
qemu-img create -f qcow2 -b winxp_base.qcow2 -F qcow2 winxp_overlay.qcow2 windows xp qcow2
By default, Windows XP installation uses generic IDE drivers. This results in terrible performance on modern hardware. To get decent speed, you need VirtIO drivers.
# Create base image (install XP once)
qemu-img create -f qcow2 winxp_base.qcow2 20G
# Install XP into base