Means Oh Really?
Often used with a white owl, occasionally decked out in different costumes for uses such as "Quite Rly" (With a monocle and pipe) Often used for sarcasm or just to be an internet nerd.
#1: The sky is blue.
#2: O RLY?!
#1: Old chap, the sky appears to be quite sapphire today.
#2: Quite rly.
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Occasionally used as "Darn", to express loss and expressing that whoever has beaten you must have been hacking, or that you will hack whomever has beaten you.
#1. You're fugly.
#2. H4X!!1!11!!1!
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