If you have access to the IP address in your datalayer, you could simply just exclude the Target script based on the IP address.
Alternatively, you will have to setup a profile script setting a property on a target user profile, if the traffic match the specific IP address. Then you just use that as a criteria in your audience.
You can read more about profile scripts here: https://marketing.adobe.com/resources/help/en_US/tnt/help/r_variables_profiles_parameters_ methods.html and look for user.header('x-cluster-client-ip') as that will give you access to the IP address.
If you don't know about profile scripts, let me know and I can help you write it. (just let me know the IP)
Thank you very much Løjmann, could we have an profile script example for 126.96.36.199? And for a range from 188.8.131.52 to 184.108.40.206?
Without giving it a try, I would say the following should work:
var ip = user.header('x-cluster-client-ip');
mboxParam = 'true';
// Error handling...
Read more about applying profile scripts here: https://marketing.adobe.com/resources/help/en_US/tnt/help/c_Profile_Parameters.html
Also, adding on to the above reply from Thomas Lojmann , Please refer the following article on the same :
Thanks & Regards