A disreputable, dissolute, or immoral man; a rake. Also in weakened use as a term of abuse (also old rip).
1781 H. L. Thrale Diary 10 Jan. in Thraliana (1942) I. 477 Sad Rips we say of bad Horses, paltry Fellows—or anything that's worthless. [...] 1990 H. Engel Dead & Buried (1991) xv. 132 ‘Where is that old rip?’ a deep, radio announcer's voice shouted. ‘Where is that useless reprobate?’