The Xpel (should) protect against small things like (small) rock chips as well as doing most of what CP does. I do know some people who do CP over the Xpel, but for most applications I'd call that overkill.
If you plan on doing the whole truck, you'll find CP cost significantly less. For an Xpel package on a raptor, you're looking at around 5k or 6 if you go with the Stealth film (I had a shop quote me this week, and those were their numbers.)
If you've already run CP before, then you know all about it's properties and what it will and won't do. Xpel does come with a 10yr warranty too. I was told that there isn't really any paint correction done (unless there are more severe scratches) on Xpel applications because the film covers up the scratches (especially the matte version). And when / if you go to take off the Xpel wrap, you're gonna have to do paint correction anyway after it's removed.
I think I'm going to do the CP on mine. I would love to do the xpel stealth and go from Gloss black to matte, but at 6k it just doesn't make sense to me.