"Hip" or "The Hip" is a term used in snowboarding/skiing referring to a large quarter pipe style jump built with the ramp side on the front (facing up the hill) and the landing on either the right or left side, so that you hit the ramp, air strait up and land on side of the jump.
That dude was shreddin the gnar nasty on the big hip today, threw a 20ft double rodeo 9.
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