Bronco said:
I’ve never had a bad MC what do they feel like?
Pretty close to what you're describing. Increased pedal effort, a lack of stopping ability.
Do they tend to go all at once like this? Am I going to have no brakes at all in three days?
In my experience on three other cars (but not the XJ), yes. You might be OK for a few days, or you might not; it depends on how bad the fluid loss is. It's not something that there's an absolute answer to. Either way, the brakes aren't working so you need to check it out.
Check for leaks around the master cylinder. Note that fluid could be leaking back into the booster (in which case you won't necessarily see it externally). Unbolt the MC from the booster and look inside of the booster; if you can see/touch brake fluid, the seals or piston on the MC are most likely shot. Also examine the diaphragm inside the booster with a flashlight for signs of tears; if there are any, brake fluid may be ending up in the booster itself and you can't see it. Tears on the diaphragm but no indication of fluid loss usually mean that the booster diapraghm needs to be replaced. Be sure to align the actuating arm with the piston on the MC when you reassemble it or you may end up with no brakes at all.
Having said that, also inspect all hard and soft lines for evidence of seepage. Look for dark spots where fluid has leaked out, particularly around joins. Remember to also detach lines (where possible) and look on top of them for cracks.
Quite honestly, while you can rebuild an MC, you're probably better off replacing it with a new one - if the piston has worn down, new seals won't seat around it properly and the fluid level will keep dropping.
Your call - check it out and see what you think, but there's a good chance it may need to be replaced.