Refers to the act of leaping or springing, often with a sense of vigor or excitement. The gloss 'exciting' is a derived nuance, not a standalone meaning.
魚が水面から躍り上がった。
The fish leaped out of the water.
彼の心は躍りでいっぱいだった。
His heart was full of excitement.
躍り (leaping, springing) and 踊り (dancing) are pronounced identically but refer to completely different actions, so they are easy to mix up when written or heard.
Used for 躍り (dance/leap) when counting occurrences of the action, as in 「1回の躍り」.
jumping for joy; dancing with delight
leap out; spring out · jump to the top; shoot to prominence; come to the forefront
jump into; rush into
spring at; leap upon
spring up; leap to one's feet; jump up and down
The nominalized form of the verb 躍る (おどる, 'to leap, to jump'). The kanji 躍 carries the meaning of 'leap' or 'spring'.