its a jhapanese emoticon shortened by english people
(^_^) which is basicly a pleasently suprised smilie often used when someone does something funny or says something funny that doesnt warrant a "LOL" but you acknowledge the humour
people can argue it means "the above comment" all they like but the fact is it was used by the asian online communities over 10 years ago.
like the now common greeting o/ which most people dont even understand but use it anyway its a basic version of a japanese emoticon of a face with a waving hand
It can be either a form of this ^_^ or Pointing above as said.
I'd actually say its more likely this ^_^ than pointing to the above sentence as how would that make sense exactly in chat. a lot of the girls I speak to use it. Along with XD aswell, ¬_¬, X_X and >.<
I consider it to mean either a happy face, or a "+1" to the post above them. Obviously in chat it would mean a happy face, but on deviantart it's probably the +1, if it's used on it's own.
an ex of mine uses XD and XP and for a long time I couldn't quite figure out why she was talking about experience points, and wondering what XD was an abbreviation for
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