I have found a script from this website which can be used within Xara's placeholder position. You'll need to download this javascript and place it into the same folder as the html file along with the image being used as the floating object. Then it's just a case of copying the following javascript code into the object's placeholder position and copying the original image object into the folder as well.
PHP Code:
<script type="text/javascript" src="dom-drag.js"></script>
<img id="example" src="your_image_name_here.gif" style="position: relative" />
<script type="text/javascript">
Drag.init(document.getElementById("example"));
</script>
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