This paper centers on a theoretical study of amplitude-modulated heteronuclear decoupling in solid-state NMR under magic-angle spinning (MAS). A spin system with a single isolated rare spin coupled to a large number of abundant spins is used in the analysis. The phase-alternating decoupling scheme (XiX decoupling) is analyzed using bimodal Floquet theory and the operator-based perturbation method developed by van Vleck. An effective Hamiltonian correct to second order is calculated for the spin system under XiX decoupling. The results of these calculations indicate that under XiX decoupling the main contribution to the residual line width comes from a cross-term between the heteronuclear and the homonuclear dipolar couplings. This is in contrast to continuous-wave decoupling, where the residual line width is dominated by the cross-term between the heteronuclear dipolar coupling and the chemical-shielding tensor of the irradiated spin. For high-power decoupling the method results in very good decoupling provided that certain unfavorable recoupling conditions, imposed by specific ratios of the amplitude modulation frequency and the MAS frequency, are avoided. For low-power decoupling, the method leads to acceptable decoupling when the pulse length corresponds to an integer multiple of a 2pi rotation and the rf-field amplitude is less than a quarter of the MAS frequency. The performance of the XiX scheme is analyzed over a range of values of the rf power, and numerical results that agree well with the most recent experimental observations are presented.