You can try a few things, nothing is guaranteed.
The Recovery Console (nor any other tool that I know of) was developed to overcome the boot loop that so many seem to find themselves in.
I would try the chkdsk /r command from the RC first...then I would try the fixmbr command. If you have a Genuine XP install CD, I would just suggest doing a repair install of XP.
Can you boot into safe mode?
System manufacturer and model?
You might as well take a look at http://www.aumha.org/a/stop.htm
, see 7E in the left column...just to get an idea of the complexity you are facing.