Not sure what recovery you are using but if you use Rom Manager off the market and get the full version of it it might help. If you are running SP Recovery then you can re-install with that. If you are on clockwork same thing. You can also use Rom Manager and select to reboot into recovery. If recovery fails at that point, then Rom Manager usually once booted back up will tell you what the issue is. Just a thought and a way. There are other ways as well to flash the recovery back to make sure that it is a fresh image, but personally Rom Manager I feel is the easiest..
Just thought about this.. are you even using a specific recovery yet?? I am assuming so if you are asking about holding x and power and going straight into recovery?