rip (v.) Look up rip at Dictionary.com
"tear apart," late 15c., probably of North Sea Germanic origin (cf. Flemish rippen "strip off roughly," Frisian rippe "to tear, rip") or else from a Scandinavian source (cf. Swedish reppa, Danish rippe "to tear, rip"). In either case, probably imitative of the sound of cloth ripping.

Meaning "to move with slashing force" (1798) is the sense in let her rip, American English colloquial phrase attested from 1853. The noun is attested from 1711; rip cord (1909) originally was in ballooning. The verbal phrase rip off "to steal or rob," is first recorded c.1967 in black slang, but rip was prison slang for "to steal" since 1904, and was also used in this sense in 12c. Rip-off (n.) is attested from 1970.
rip (n.1) Look up rip at Dictionary.com
"rough water," 1775, perhaps a special use of rip (v.). Originally of seas; application to rivers is from 1857. Rip-tide (also riptide) is attested from 1862 but isn't a tide.
rip (n.2) Look up rip at Dictionary.com
"thing of little value," 1815, earlier "inferior or worn-out horse" (1778), perhaps altered from slang rep (1747) "man of loose character," which is itself perhaps short for reprobate (q.v.).