I have two right triangles that share the same hypotenuse. Can the length of Xb be found using just the other lengths shown (X, L, Y)? I have only been able to find it by using a combination of the asine, atangent, and tangent of the resulting angles, which seems like a much too complicated and non-elegant solution. Thanks for your help!

Yes. It can be done but as you mentioned it is non-elegant.
Perform step (1) to (4).
Then by power of a point, do $(3).(4) = (1).X_b$
After simplification, you should get the following quadratic equation in X(b) , if my calculation did not make any mistake.
Edit: Let $K = X^2 + Y^2 – L^2$.
Then, $[√K – √(X_b^2 + Y^2)][√(X_b^2 + Y^2)] = [X.X_b – X_b^2]$
$√K√(X_b^2 + Y^2) – (X_b^2 + Y^2) = [X.X_b – X_b^2]$
$√K√(X_b^2 + Y^2) = [X.X_b – X_b^2] + (X_b^2 + Y^2)$
$√K√(X_b^2 + Y^2) = [X.X_b + Y^2]$
$K(X_b^2 + Y^2) = X^2.X_b^2 + 2XY^2X_b+ Y^4$
$(X^2 – K)X_b^2+ 2XY^2X_b + Y^2(Y^2 – K)= 0$
Putting K back to get
$(L^2 – Y^2)X_b^2 + 2XY^2X_b + Y^2(L^2 – X^2)= 0$