Motorola Fire XT on boot loop - flash/recover without powering on?
your phone is bootlooping, I don't know what kind of app you've installed on your phone.
about recovery mode, that's it, you're in recovery mode, after presing vol up + vol down when you turn on the phone, after a while you'll find your screen blank with "enter Recovery mode" on screen, it's normal you've seen white triangle with android mark, just touch home softpad to enter the real recovery mode, try to reset factory from it.
if your phone still won't boot to the system, so the only way I can suggest you is by flashing with sbf ROM via RSD Lite.