(To). A hip means a hypochondriac. To hip means to make melancholy; to fret; to make one dismal or gloomy with forebodings. Hipped means melancholy, in low spirits.
For one short moment let us cease To mourn the loss of many ships - Forget how tax and rates increase, And all that now the nation Lips.
Source: Dictionary of Phrase and Fable, E. Cobham Brewer, 1894