My based schizo take on the situation is this: Dax will eventually turn on Ralph, but not out of first choice.
Based on my observations on the falling out between Maddox and Dax and the (admittedly limited and maybe biased) understandings gleaned from it, Dax is a very reactionary figure. He waits until the problem can't be ignored before taking immediate action to alleviate the problem with the least amount of effort. In other words, he will only throw hands when the gauntlet has been thrown and the thrower is barring the door. Look at the Lolsuit. Up until that point, Dax has largely been trying to ignore Maddox's petulant bullshit and autistic attempts at getting back at him with a little light ribbing here and there. Once legal issues came his way, he took every decisive option to getting out. He didn't fight the Lolsuit, merely escaped it because he understands that fighting it posed a greater risk than just getting it dismissed.
Ralph, by contrast, is a default aggressive player. When the ball is in his end of the court he will do anything and everything to get it out. Even if the means are illogical and objectively self-destructive, as has been demonstrated with fallouts with Great Teacher Rackets, Daddy Gym and Gaytor the Eldest of Homosexuals. I do think Ralph carries a lot of dirt on Dax. Maybe not enough to "destroy" Dax but enough to make him start sweating bullets when the shit goes down at sundown. And if the Lolsuit is any indication, that's enough for Dax to go full boar. So when Ralph inevitably starts shit with Dax and starts leaking the deets, Dax is gonna pull out as many stops as necessary to make the problem go away with as little effort as possible. Ralph, as a result, will go full retard, self-immolate, and repeat the cycle until either there's no more gunt left to burn or no one else to stand by and observe the blaze.
I think his current play of hard-core guntguarding disguising "hard-core" ridicule is just a reflection of this. By throwing in what is tantamount to light jabs at Ralph's expense, he's trying to appease the Ralphamale ayylogs like you and me. By putting on the appearance of guntguarding, he's retarding (no pun intended) the inevitable Ralphamale Reaction. He's playing the middle to cause as little fuss as possible for as long as feasible. Bear in mind I am a retard and I was wrong about Jim and Ralph going at it, but that is just my opinion.