It's not always from the hip, I can do it with an AR from the shoulder.
What you do, is keep your index finger on the trigger. Holding the front grip with your other hand, pull the gun forward from the forgrip, discharging the gun. The recoil will push the gun backwards. But if you keep the foreward pulling pressure, it will find the fulcrum of the two sides, and fire rapidly, up to as fast, and sometimes faster than a registered machine gun.
Search google, there are websites with videos on how to do it.
Try it, its fun and attracts attention, sometimes good, sometimes bad. But its perfectly legal, its just a rapid pulling of the trigger.
Gets expensive though.
I remember the first time I bumped off my AK. It was my very first AK, a AMD63; full stock, 16 inch barrel, very accurate. I held both grips at about chest height. I was at a private range, where it was just a dirt berm to shoot into. Held the front grip and pulled it forward, let out a burst of about 4 rounds without even trying. I was hooked. When I drove back to the building to pay for range time, they asked what I had, I simply said an "AK" One of the farm hands said it was loud and "pop pop pop pop" and grinned. Good times.