It's the process of copying the audio or video data from a media form (e.g. CD, DVD...) to a hard disk.
In simple words:
If you download a song from the net illegally, you say it's been copied or it's been ripped by sopmeone else before, who has done you the big favor of not having to spend your money and buying it from a shop.
Title: Lost Highway
Author: Bon Jovi
URL: Ripped by Saint_Nightmare
or
last night i downloaded Bon Jovi's new album off the interent, ripped by my friend who just bought the new CD
by Saint_Nightmare June 29, 2007
derived from the acronym R.I.P (Rest in Peace) often used on gravestones, used as a response that loosely means "this/that sucks" or "that's whack"
Example 1:

Person 1: i accidentally called my teacher mom today i want to die
Person 2: riiiiipppppp

Example 2
Person 1: i got 62% on the math test rip me

Person 2: i got 55% rip

Example 3:
Person 1: i'm screaming i saw a girl wearing crocs under her prom dress
Person 2: RIP
by boi-he-boutta-do-it October 25, 2016
To dis or burn a person, group of people, or a corporate entity.

"She ripped on that one goth 'cos she thought he stole her phone."

"Sorry for ripping on you guys, I really didn't mean to."

"I'm going to rip on WalMart 'cos they sent my job overseas."
by Kreoche April 28, 2006
When a dog runs laps around your yard or house, typically at full speed, for no apparent reason. Highly entertaining to watch.
Buster and I were playing fetch, and then all of a sudden he got the rips! It was hilarious!
by C. Smith December 9, 2007