Results of Update or Restore (recovery)

Hello!

So, my phone got stuck in the boot/reboot loop again. This has happened on three other iPhones that I have had. This is now the second time it has happened to my current one, iPhone XR (which means I have gone through this four times now, but the first time I am trying to fix it myself).

Anyways, my phone is in recovery mode. The website I was using had said to choose ‘Update’ (when connect to, then prompted by iTunes). The ‘Update’ didn’t work, well at first it was going okay, then crashed.

So in short:

When connected to iTunes and in recovery mode there are two options (that I saw) ‘Update’ and ‘Restore’.

If I choose ‘Restore’ (brings it back to the way it was when I first bought it/factory settings) will that also delete everything saved on my iCloud? Or can I do ‘Restore’ and then just sign-in to my iCloud and have most of what I backed up?

Thank you so much!