Adding Xenia won't do anything to help you. There are several things that you can do, with some easier than others.
xenia is used as a nutrient exporter but you are far too bad to add xenia now, at 40 ppm it would damage any coral added to the tank at this point. xenia is used in refugiums due to its ability to thrive in nutrient rich environments, and nutrient exporter.
1. Change you CC base to a deep sand bed, 4" or greater.
this is a good idea and would have to agree completely. I am not from the deep sand bed school but it does make things easier as far as controlling nitrates, siniking phosphates, and addng a substrate that allot of microfauna can survive in.
2. Add a refugium, or at minimum, at macroalgae to your tank. The macroalgae will filter out the nitrates in your tank. I recommend chaeto as a good macroalgae that won't cause a lot of problems with your filtration.
adding a fuge is good in a perfect world, but is not necessary. if you have the space for it and the lighting and ect. why not. more gallons added to the system the more it dilutes the bad stuff. but this isnt always practical. I do not recommend adding cheato to the tank. the stuff grows fast and dosent look that good, and can trap detritus itself. you want a nutrient export not a gatherer. and even when you think you finally got it all out of your tank think again. there is always a piece growing here or there. it can be frusterating.
3. Add a nitrate sponge to your filter. This works well, until the nitrate sponge fills up, so this would have to be changed often.
not a bad idea, but you can accomplish the same thing with carbon, and a poly filter.
4. Do frequent water changes.
BEST ADVICE!!!!! frequent water changes with ro/di water is the key. if you want to get rid of trates this is the best thing. and your fish and coral will love you for it.
you did not mention what type of skimmer you have. this is important. if you are not removing organic matter before it brakes down you are never going to get ahead. make sure you have a really good skimmer.
and cut down on feeding if you feed allot. the fish will live and it makes less waste to break down into bad stuff.
hope this helped.