I talked to a game official (who also was a sniper in the military) about it at check-in. He said XTP's are a great bullet at shorter ranges and speeds of up to 1200 fps.
Which 240 grain XTP bullet were you using? There are two 240 grain XTP bullets: The 240 grain .430 XTP and the 240 grain .452 XTP Magnum.
In any event the former sniper is wrong. According to the Hornady performance chart that is no longer available on their site: The 240 grain .430 bullet is OK to velocities up to 1,700 fps and the 240 grain .452 Magnum bullet is OK to velocities in up to 1,900 fps.
This 240 grain .430 XTP killed two deer. It doubled lunged one, entered the chest of another and came to rest in the offside ham. The powder charge was 130 grains of granular Pyrodex.