The 24-year-old, who only joined Town in January from Colchester, clashed with Tangerines keeper Matt Gilks just over 30 minutes into his full debut for the club.
He received gas and air treatment to combat the pain before being taken to undergo scans in hospital, where he remained over the weekend.
"It is more like a car crash injury than a football injury," Town boss Mick McCarthy told the club's official website.
"He has cracked three vertebrae and he is definitely going to be out for a while. It's difficult to say how long because no one here has had to deal with this sort of injury before.
"The defender sort of half turned him and the keeper has caught him. It's a real shame for the lad because he's a talented footballer. He will be back though, we just have to let the injury heal naturally."
There was better injury news for Ipswich, who are expected to have Scott Loach and Lee Martin available for Tuesday's game with Watford after the pair returned to training following thumb and hamstring injuries respectively.