Up is a term derived from the word "shut up" it is used when someone is just talkingthat bullshit or says something completely and utterly unfunny or says sum shit that makes no sense at all. The p's in up can be multiplied depending on the severity of the situation.
Guy 1: "you know I can bench 345 even though I never worked out once in my entire life?"
Guy 2: "up nigga."
Guy 1: "bro i fucked 13 bitches this spring break and got wasted even tho I get 0 bitches in school"
Guy 2: "would you please up?"