Your Meridians are unlocked and you are capable of circulating Qi through them. You are at the first stage of your chosen cultivation system from any Xianxia or Xuanhuan media, and while you can learn multiple cultivation systems, it is not recommended if you don't have any protections or don't know what you are doing. You can pick up Dharma spells and techniques from any other system, and through arduous training you will be able to refine your body and spirit, to purify your essence, and distill it to attain higher levels. With each level you advance, you are capable of stronger and more fantastic feats.
You can hone and reinforce your body into a living weapon, force your life force into constructs to do your bidding, become a master of beastly transformations, or a natural at spell formations to turn the elements against your enemies. Whatever your chosen path, you are capable of great things.
The speed at which you can cultivate and attain higher levels is faster than most cultivators, as you are far more talented than the average cultivator. You can attain the realm/level equivalent to Great Sage in around a decade of regular study and practice. The more time you dedicate yourself to it, the shorter this time becomes.
An ancient spirit of knowledge has fused with your soul. This spirit is aware of all the core knowledge of cultivation in your system and beyond, meaning that not only would you not lack knowledge in anything related to cultivation and you can commune with this spirit to access their knowledge and learn new techniques or acquire knowledge of how to advance your path, and given enough time how to create your own system.