i Register
In some senses, outwave is marked as archaic. Watch for register when choosing this word.
verb
To surpass in waving; to wave more than.
Down in the courtyard the crowd cheered and waved back. Frog, beside herself with excitement, outsmiled and outwaved them all.
To wave outward.
The cowering eagle screamed its joy, / Its pinions plumed anew, / And proudly to the winds outwaved / Our flag of star and blue.