Traverse a simple xml to extract nodes

In a stored procedure i receive an XML as a parameter.  It looks like:

<root>
  <id>55408</id>
  <id>60179</id>
  <id>60640</id>
  <id>61787</id>
</root>

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I need to do some processing on each <id> tag.  My first thought was to place them in a temporary table and then use a cursor to read each one and do the neccessary processing.

However there may be a way to traverse the XML in a cursor like scenario so i do not need the temporary table and you are welcome to suggest a solution.

How would extract each <id> tag and place it in a temporary table?

I am thinking:

Traverse the xml, extract <id> tag, and create a temp table

Create cursor to traverse table

While cursor returns data DO
begin
  Process the current <id>.
end ;

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Thanks in advance!