Hi there,
The moment I saw Chromebook, this began raising red flags, hopefully not though.
Anyways, RAM is good, but how much storage does your SSD have? You have at least, if not more than 75 gb to run XP properly (75 gb is the entire world but since it is a classroom setting, I'm not sure you want that)
The major problem with the Chromebook and XP is the cooling. Since it's a Chromebook, cooling won't be that great so expect to have moderate to severe issues with overheating/cooling. That all depends on settings though. XP will destroy and overheat your computer if you crank the graphics up to the max. Try the demo that I linked at the end
What is your graphics card? If its an Intel Card, you are going to have a bad time with XP unless there is a AMD or Nvidia option (probably not though)
You can always test the free demo to see if your hardware and Chromebook will be able to handle the stress of XP.
Here is a link to the demo :
http://www.x-plane.com/downloads/x-plane_10_demo/
Hopefully this all helps you,
-Rishi