I just tested your code on my XIAO ESP32C. Those are my power sources and the readings:
Powering the Xiao using a LiPo battery (charged to 3.95V at the moment of test) soldered to the bat+ and bat- on the back side of the board:
Led blinking (awake): 17 ~ 20mA | Deep sleep: ~ 41uA
Powering the Xiao using a 5V breadboard power supply connected to the 5V pin on XIAO:
Led blinking (awake): 18 ~ 20mA | Deep sleep: 172 ~ 178uA
Powering the XIAO using a 3.3V breadboard power supply connected to the 3.3V on XIAO:
Led blinking (awake): 17 ~ 19.5mA | Deep sleep: ~92uA
I am a newbie here, sorry I can’t help you but those readings may help you somehow.