It's mean hugs and kisses, which brings that "X" representing hugs while "O" the later. However, most people indicate "X" used to signify a kiss, so to me. And, I think it's more logic for "O" to be indicate as the hugs than "X".
Well, whatever!
I prefer to say hugs and cuddles by the way! ♥
V0025 - Sweet XOXO 14.5cm x 10.5cm Horizontal folded ----------