This is an old qustion, but I had to do it myself recently and I achieved something working so (besides response like mine would save me some time): Basically use ffmpeg to change the container to HLS, most of the IPCams stream h264 and some basic type of PCM, so use something like that:
ffmpeg -v info -i rtsp://ip:port/h264.sdp -c:v copy -c:a copy -bufsize 1835k -pix_fmt yuv420p -flags -global_header -hls_time 10 -hls_list_size 6 -hls_wrap 10 -start_number 1 /var/www/html/test.m3u8
Then use video.js with HLS plugin This will play Live stream nicely There is also a jsfiddle example under second link).
Note: although this is not a native support it doesn't require anything extra on user frontend.