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Cross and circle boards may suggest a variety of mystical, symbolic, or esoteric designs such as mandalas; sun and earth symbols; swastikas; or Celtic, Coptic, and Greek crosses.
Sabino Arana interpreted it as a solar symbol, supporting his theory of a Basque solar cult based on wrong etymologies, in the first number of Euzkadi.
There are many theories about its meaning, Emmanuel Anati suggests that it might symbolize a complex religious concept, perhaps a solar symbol linked to the astral movement.
In Rybakov's hypothesis, the male deity with the horse and sword is Perun, the female with the horn of plenty is Mokosh, the female with the ring is Lada, and the male deity with the solar symbol, above the empty underworld, is Dažbog, (the God of sunlight for whom the sun was not an object but an attribute, thus the symbol's position on his clothing rather than in his hand).