Although an iPhone XR comes with a low price as compared to iPhone XS, it cannot be considered a cheap phone. The starting price of iPhone XR is $749 which is definitely the higher price as compared to iPhone 8-Plus.
A quick comparison between the features of iPhone XR and XS
IPhone XR, XS and XS Max are all powered by A12 processor which is the fastest processor featured in the iPhones. It means that all three variants of iPhone are faster than all of the previous iPhones and most of the Android phones available in the market.
IPhone XS and XS Max feature 4 GB of RAM, while XR uses 3 GB of RAM. However, Apple may consider increasing RAM in the new productions down the line.

The storage capabilities are also different in iPhone XS and XR. IPhone XS and XS Max are available in 64GB, 256GB and 512GB variants. On the other hand, iPhone XR is available in 64GB, 128GB and 256GB options.
The biggest difference between iPhone XS and XR is the display. A typical iPhone XS is equipped with 5.8-inch OLED. IPhone XS Max has a 6.1-inch OLED. On the other hand, iPhone XR has 6.1-inch display based on LCD. The screen resolution in XR is 1792 x 828 pixels. However, this display is, by no means, the low quality one.
All of these new phones use iOS 12 which tends to give better performance as compared to the previous versions of iOS.
Appearance

Appearance is quite prominent feature which is considered by the customers when they look to buy anything. In this scenario, iPhone XS, XS Max and XR have the same kind of appearance. All have near edge-to-edge display. It means there is no fingerprint sensor available in all three variants. These phones mainly use FaceID to unlock the phone and its several features.
Glass rears, support for Qi wireless charging and water-resistance ratings are also the features which remain the same as look at these phones.
The major difference from the perspective of appearance is the available of phones in different color variants. IPhone XR is available in 6 different color variants. From the perspective of looks, it is by far the most attractive smartphone which you can have. On the other hand, iPhone XS and XS Max are available in in standard color variants which include silver, grey and gold.
Moreover, the metals used in phone builds are also different. IPhone XR has aluminum in it build. On the other hand, iPhone XS and XS Max feature stainless steel.
Camera

IPhone XS and XS Max are loaded with dual 12-megapixel camera in the rear. One of these is the f/1.8 main sensor while the other one is a wide-angle camera with an f/2.4 aperture.
The rear camera featured in iPhone XR is the same as that of XS and XS Max. However, it is not a dual camera. It means that there is no optical 2X zoom available with the iPhone XR. However, this shortcoming doesn’t make iPhone XS a phone which tends to take bad photos. If you compare the photos taken by XR with the ones taken by XS and XS Max, you will not be able to find any visible difference.