I don't think hip dips matters at all. Fat is a normal, healthy part of the human body. It jiggles and folds and, despite what media likes to portray, this is all normal, healthy, and beautiful.
I'd be more interested to know how your shoulder width appears in comparison with your hip width. X's are broader hourglasses, 8's are narrower. I prefer Kibbe's system although it's fraught and complicated. X's would loosely correspond to Soft Natural, 8's to Romantic.
I am an X with a longer rise (crotch to natural waist point) than most. I especially love shorter tops and high-waist bottoms, or dresses that have a wrap top and higher waist point. That said, I flout these "rules" all the time to achieve a style that I feel good in.