Dear student,
All liquids are compressible up to a certain extent. But practically we assume that liquids are incompressible because their compression ability is very low. When we apply high pressure then the liquids will act as a compressible substance.
Liquids are incompressible meaning that it occupies nearly a constant volume over a wide range of pressure, it does not generally expand and it may not always mix readily with other liquids.
On the other hand, solids are rigid because they have a strong intermolecular force of attraction but liquids have fewer intermolecular forces of attraction as compared with the solids that's why they are not termed as rigid.
Regards