Wiktionary
n. 1 (context boxing English) A technique in which the boxer assumes a defensive stance against the ropes and absorbs an opponent's blows, hoping to exploit eventual tiredness or a mistake. 2 (context figuratively English) Any strategy where an apparently lose position is assumed in the hope of eventual victory.
WordNet
n. a boxing tactic: pretending to be trapped against the ropes while your opponenet wears himself out throwing punches
Wikipedia
For the boxing strategy, see Rope-a-dope.
Rope-A-Dope is an album trumpeter Lester Bowie recorded for the Muse label and released in 1976. It features performances by Bowie, Joseph Bowie, Malachi Favors Maghostut, Don Moye, Charles Bobo Shaw, and Raymund Cheng.
Usage examples of "rope-a-dope".
Both fighters understand, at this point, that Ali has already tried what he and his handlers felt was the best strategy for dealing with Leon: that was the time-tested rope-a-dope, which assumed that a frenzied, undisciplined fighter like Spinks would punch himself out in the early rounds, like George Foreman, and become a tired sitting duck for Ali by the time the bell rang for number ten.