If your real goal is to be able to search on any combination of IP/X/Y, then I think you can support that by using the splunk transaction command. That wouldn't change the raw text of your lines (which isn't really Splunk's bag so to speak), but does allow you to search upon data that might be spread across lines as well as viewing them grouped together.
Using a transaction, you could search against X=7524.9 and see the associated IP and Y values, or use ip=0xBBCCDDEE and see the associated X and Y values, etc.
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