Normally, the computer will not boot. And you will have to reinstall Windows XP.
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NTLDR will default to \Windows on the first partition of the first hard drive.
the three files in booting files in windows xp boot.ini ntldr and ntdetect.com
NTLDR
One of you windows operating system important files has been corrrupted,deleted or unreadable.That will be the main cause that your NTLDR cant load. I found it similar to this one. It is worth pointing out that the ntldr file is usually missing due to virus attack. You hould run an antivirus scan as soon as possible after you have repaired on the disk.
NTLDR is indeed a key boot file in Windows 2000 and all of the Windows operating systems since Windows NT. A machine will not boot without that file.
ntldr (NT Loader)
NTLDR
NTLDR
If the NTLDR file is missing on every system restart, you can try booting from the Windows installation disk or a USB drive and use the repair options to fix the NTLDR file. Alternatively, you can try using a bootable recovery tool to repair the missing NTLDR file. If these options don't work, you may need to perform a clean installation of the operating system.
Boot from Windows XP CDSelect into boot menu "Restore Console" or smth like that copy X:\i386\ntdlr C:\copy X:\i386\ntdetect.com C:\Type this commands (X - is a letter of your CD/DVD drive; C - is disk where Windows XP installed):Reboot.Done.
If the system drive is C, then the address is C:\