I’m not able to factory reset my Xbox

No problem, it's all tied to your account. All your Games with Gold will stay with you as long as you have Gold, regardless of what console you sign in on.

Best of luck!

Please let us know which xbox you have and if anything is attached to it like a hub or an external hard drive etc.. Please follow one of these options https://beta.support.xbox.com/help/hardware-network/console/reset-console-to-factory-defaults

If you were to buy a new Xbox and sign in with your Microsoft Account, your purchases would be available to download or install from disc. If you had your console online, you're saves would also pull down from the cloud, and you should not loose progress
there, either.

Some settings might be different, but that depends on if you have your settings backed up to the cloud (either way, it wouldn't be a big issue, or any loss of data if it wasn't, just for the system settings).

Is there something particular that you're worried about loosing? Game progress? Some screenshots or video captures that weren't uploaded might be lost on the console, but everything else should carry over via online cloud storage.

Let us know if you have more specific questions about that. Happy to help.

You have tried this?

• Hold "Eject" and "Sync" button, click the "Power" button.
• Wait for 2 startup tones to sound, a menu with 4 options will appear: "Restart", "Power off", "Factory reset" and "Update off of Flash Drive".
• Click "Factory reset", you'll be asked whether you want to keep your installed games or not.
• Click "Keep" installed games and let it update for a couple of minutes.
• Then Xbox One will be boot normally again. All your games will be still stored on the game drive.

Ohh, that's no good.

Do you have an external drive that you can use to try and do a
offline system update?

If not, there are some more desperate measures like unplugging it for an extended period (30 minutes to an hour) and booting it back up and seeing if something different happens, or checking
Microsoft Device Support to see if there are repair/replacement options available for you and your device.

It's a toughone if it's not even letting you get past the boot up error screen, that makes me think there is a hardware fault/failure somewhere in that chain, but lets hope not.

Let us know!