Booting into TWRP fails
I encountered the same error so after a lot of research I referenced this site: http://androidforums.com/threads/recovery-unofficial-cwm-6-0-5-0-peregrine.859010/

Before you flash recovery you need to transfer the file to the SD card. After I did that I ran the below:

C:\adb&gt;fastboot flash recovery CWM-6.0.5.0-peregrine.img


I then booted into recovery mode and it worked.  You need a different build because I have an XT1040 and you have an XT1068 but the same general principles should apply.