I have a list having XML items. Can I get the previous versions of an XML if it gets modified and saved before getting approved? I enable the versioning from the versioning settings but it give me the current version only.
You have list of Versions on Item. You can show it on SharePoint in UI from Item Ribbon. You can download the previous version and compare them.
Or you can work with them programmatically. Here is example of downloading all versions (you can download last two versions and compare them after).