I don't think it's strictly limited to texting, however. I hear it used colloquially as a term of endearment, usually as a farewell remark. I'm sure I've probably used it myself in that manner.
I'm taking off, see you later.
Ok, love ya, babe!
It seems more common in spoken AmE for women. It can be used with friends, family, children, or spouses. With men, it's usually reserved for spouses and children.