I was in a similar situation and posted some impressions a couple pages back. Regarding sound, I had very much the same impressions as you.--Long Post--
I'm torn between the Ananda and the Edition XS after listening to both of them for a few days. I will be only keeping one of them but there is a decent price difference between them. The Ananda's were $650 new ($599 + tax) whereas the Edition XS were $499 (no tax) new directly from Hifiman. Both are still in their return period. Both are being powered by the Schiit Magni Heresy Amp with a Modi 3+ Dac during my testing.
I recently upgraded from the Hifiman HE-X4 to the Sundara and I really liked the step up to the Sundara. Everything was more separated and distinct compared to the HE-X4 and they had more punch in the bass. The HE-X4 are absolutely amazing at $129, I highly recommend them, they are a more balanced version of the HE-4XX but at a cheaper price. I had the Sundara's for about a week and then found out about the Anandas. I ended up purchasing the Ananda's after watching reviews comparing them so that I could compare them myself. I was blown away by how much more detailed the Anandas were, especially with how they were able to separate the layers of music to make them sound distinct but also be a part of the same track. The Ananda's definitely spoiled me with their separation, detail, and soundstage. I primarily listen to instrumentals (from video game soundtracks), EDM, and some hip-hop/rap here and there. They were definitely brighter than the Sundara's but not harsh to me. The Sundaras sounded muffled compared to the Anandas when comparing both back to back. Fast forward another week and I heard about the Edition XS being a new release (in NA). I read through the forum thread here and they seemed like a more open version of the Sundara's with better bass, a more open soundstage, and more detail. I purchased the Edition XS and have been testing them against the Ananda's for a few days.
Here are my thoughts regarding the Ananda's and the Edition XS
Build/Comfort: The Edition XS is definitely the looser fitting pair between the two. When I first tried it on they felt too loose and still kind of do. I'm not sure if this is an issue with my specific pair but each position on the headband does not feel the same when selecting a position. The topmost and bottom most pips slot in firmly but the middle pips have a higher pitched click when they are in position and they require less pressure to make an adjustment to a higher or lower pip. The Ananda's on the other hand feel like they have the better-built headband system. Each pip on the adjustment slider is consistent and slots in with more force and stays there. In terms of comfort, I do not have issues with discomfort or pressure with either pair. I have a larger head and both headphones are comfortable for long sessions. The Ananda's clamp force is enough to where I know have headphones on and they stay secure. In terms of comfort, I slightly prefer the Ananda more since they feel more secure on my head. Leaning my head back slightly to take a sip from a canned drink had the Edition XS move back on my head. The Ananda's stay secure and snug but not uncomfortable. Surprisingly the Edition XS comes with the same cable that came with the $129 HE-X4 I had. It's a good stock cable, much better than the Sundara and Ananda cable. It weird how the cheapest Hifiman headphone has the better cable but also weird how a $129 and a $500 headphone both come with the same cable.
Sound: Here is where I am torn. On more technical tracks with more layering, the Ananda really shines with its ability to separate each layer of the track and slightly space them further apart. They are not massively ahead compared to the Edition XS, about 10-15% or so but it is noticeable to my ears. I'm assuming because they are brighter, with slightly less emphasis on the mids, this gives them more of an airy soundstage compared to the Edition XS. I am also able to pick out more subtle and faint details in tracks on the Ananda's compared to the Edition XS. The Edition XS has about 90% of the soundstage of the Ananda's to my ear and is slightly more intimate. Detail retrieval is just barely behind but only due to subtle details I can pick out on certain tracks with the Ananda's. The Mids are definitely more forward and the bass has more slam and impact to it. Trumpets and drums have more presence and body to them in orchestral tracks whereas Ananda portrays violins and flutes with more emphasis and distinction.
Here are some songs I used to compare the two. Everything is available on Spotify if you would like to compare the two headphones with the same tracks. I'd love to hear other people's opinions using the same tracks.
The Road by Gareth Coker (Halo Infinite Soundtrack): When the drums first start to play on the Ananda's, the snap/higher-pitched tone is very distinctive and feels the most emphasized. It isn't harsh but it grabs the most attention. The rumble and resonate sound from the same drumbeat is noticeable but it is definitely a secondary tone and slightly hidden away. When the strings for the main riff of the track start playing they are presented as front and center but the drumbeat from the beginning is still very much present and distinctive but presented on the side. This remains throughout the track on the Ananda's. On the Edition XS the drums, in the beginning, have more body and presence in the rumble and resonate sounds. The snap/higher pitch of the drums is slightly subdued compared to the Ananda. When the main riff comes in, it has slightly less presence and seems slightly recessed compared to the Ananda. The drumbeat and string riff seem more even in terms of being presented on the Edition XS. Due to this, the separation seems weaker on the Edition XS to me. Both are really enjoyable on this track with the Ananda's giving more energy to the main riff and the Edition XS giving the drums more rumble and body.
Mountain Banjo by Rhiannon Giddens (Music of Red Dead Redemption 2): This is a very comforting and easy to listen to track. Two sets of banjos are playing on each side. The right one is presented more strongly whereas the left one is there to complement it. On both headphones, the banjos are distinctively separate but come together well. On the Ananda's both banjos are more distinctively kept separate and feel further apart. On the Edition XS both banjos seem closer together and less distinct compared to Anandas. The higher pitches from the left banjo are easily heard but in certain areas of the track, the left banjo seems more in the background and hidden away compared to the Ananda's.
New Noise by Refused: I had to turn down the volume on both headphones on this track as it is a very loud and shouty track. The Edition XS was much more tolerable here. The main guitar riff had more energy and the vocals were presented more evenly. The Ananda was borderline shouty to my ears and was hitting my tolerance level.
Hope (Title Theme) by Justin E. Bell (The Outer Worlds Soundtrack): This is the track where I feel like the Ananda shine over the Edition XS. In the beginning minute or so when the flute is played, it feels like the sound is coming from above and it seems to be more separate and distinct compared to the Edition XS. Both are very close but the Ananda has that 10% more or so magic. This is a decently long track with many examples but I feel like the Ananda overall does a slightly better job of separating each layer of the track and presents the overall track slightly better to my ears.
Resonate by OVERWERK: Overall very good on both, the separation and moving sounds in the background are distinct and presented very nicely. The Edition XS takes this song just due to the amount of bass it can produce. The slam and punch really makes this track more enjoyable than the Ananda's. Geist by OVERWERK is another track I highly recommend listening to on both
Overall I really like both pairs of headphones and wish I could keep both. The Edition XS is phenomenal at $500, especially considering how close it is to the more expensive Ananda but being more accessible with more genres of music. I enjoyed listening to it much more when listening to more bass-heavy tracks. Would love to hear other people's opinions using the same tracks to compare the two.
I ended up keeping the XS and returning the Ananda, primarily for comfort reasons. If comfort was not an issue, I would have kept the Ananda as I preferred the slightly more detailed and analytical sound. Since I no longer have both, I can't A/B those tracks to provide comparisons. But what I can say is that after just listening to the XS for a couple days (and not constantly going back and forth with the Ananda), I've gotten a lot more used to it and don't have much regret. For songs which I've heard on both, I do still remember that certain passages (especially with sub-bass) were more defined and cleaner on the Ananda, which I enjoyed. But for anything new, it brings me the same amount of overall enjoyment as the Ananda.
Basically, when removing the ability to directly compare, I feel that they're similar enough to each other that I don't feel like I'm missing out on anything - unless I've heard something before a million times and had a specific expectation of the sound.