"This method was adapted when analog CD music recordings were copied to a digital format such as wav, aiff or mp3. For the lack of other terminology, the same acronym was used for this. So, the act of RIPing a CD means to take an analog recording and store it as a copy in digital format (usually in lesser quality than the original...As a rule, digital will ALWAYS be lower quality than analog...always...)"
CD music is not analog. It's digital.
When you rip a CD to an uncompressed format like WAV or a lossless compressed format like FLAC, there's no loss in quality.