Yeppers. The XD (and Glock, S&W M&P and Sigmas, most SIGs, etc.) are a tilt-barrel, external-locking system. The tilt-barrel is the most common system in autoloaders. The external-locking models rely on external surfaces at the top of the barrel and slide to lock the two together at the moment of combustion and until the bullet can clear the muzzle. The barrel tilts, unlocking the barrel-slide unit, and the slide is free to reciprocate all the way back and shove a new round into the chamber as it goes forward. With the slide locked back, that tilt will be more pronounced in some models than other, and generally more apparent in models with shorter barrels.
The internal-locking tilt-barrel types include the 1911, Hi-Power, and some of S&W's metal frame guns like the 910. It's and older design than the external-lockers. The locking lugs and recesses are all internal. That's a big reason 1911s can be slimmer and have a more rounded shape than the external-lockers. All things being equal, the external-lockers have an arguable reliability benefit over internal-lockers.
And before age-ranger calls me on it

, Beretta makes a distinctly different mechanism where the barrel rotates to lock and unlock, rather than tilting, dropping, or staying in one place (gas blowback).
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