1. An exclamation of 'yes'. When 'yes' just wont do the point your trying to make any justice. Used when you feel so strongly about something or what you are trying to say is so obvious that your are almost brought into a violent rage that someone has questioned you. Should be said quickly and abruptly with a frown as to snap at the clown who dare question you.
2. Also can be used as a celebratory phrase for hateration purposes, similar to YSND, to express the utmost fulfillment you receive at the misfortune, or in the most extreme cases, demise of others. Commonly used with a fist pump.
1.Person 1:I heard they brought back the 99cent whopper at BK...you wanna go?
Person 2 (enraged by the absurdity of of his intentions being questioned): PHUKIN RITE!!
2.Person 1: Hate update: Bert was dumpster diving yesterday and got three toes bitten off by a gigantic rat....
Person 2: (celebratory fist pump) phukin rite...