Can i trade in my iPhone XR for cash instead of receiving a gift card?

It is not possible to get a cash payout at trade-in.

You can choose to spend the money on a new Apple device through the Apple Store or get a gift card.

I do not know if it exists where you live. But here where I live, there are stores that buy iPhones and other Apple equipment, and pay the money in cash. Maybe someone similar is found near you?

See more here:

Apple Trade In - Apple

No, as all trade-ins, you can get a gift card or a deduction on your new iPhone purchase.

See this support article (also the FAQ section at the bottom):--> Apple Trade In - Apple

Regards

Giulio