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1. To agree, concur or express understanding of something.
2. Being in "the know" or knowledgable about a subject.

1. Person 1: "Man this song is off the hook!" Person 2: "Yeah, I'm hip!"

2. I'm hip to the music scene.
by Nabru September 14, 2005
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3
An alternative to saying "I'm cool" or "I'm down for that" or even "I agree".
John: Hey dude, wanna go get a burger later?
Michael: Hell yeah dude, I'm hip!
by stickmanmob January 27, 2015
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