I suggest reading this answer
SVN Release Management
Basically, there is one branch called RELEASE, which you can tag from there if you want. And save the short-edged code version in the trunk
As for naming releases, it depends on what suits you best and those who see the release number.
Think about how to use MajorRelease.MinorRelease, and then maybe somewhere for those who are technically interested, you can even specify the patch release number (for example, autoupdates of the application and major.minor remains the same).
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