Ipswich is the county town of Suffolk. It is an isolated one trick town located 70 miles NE of London. Note that there is no motorway passing through Suffolk (there must be a reason for this).
At the weekends the bored population like to hang round at certain establishments located on the waterfront area rocking their new threads and getting wasted while looking round giving others the evils because they all think they're ballin'. Ipswag is the attitude that they display thinking that they are badass and street.
Like they're Drake or Kobe or something"
"Yeah this town is full of attitude, I guess it's Ipswag"