Alun Wyn Jones says it would be the "last option" for Wales players to go on strike against England but admits the threat of action is "hard to deny".
Welsh rugby players are in dispute with bosses about a long-term pay agreement.
Players in Wales have been considering strike action ahead of the Six Nations game against England on 25 February.
Head coach Warren Gatland says he would not support players striking but backs his players in their contract dispute with the Welsh Rugby Union (WRU).
When asked whether going on strike for England's visit to Cardiff was a real possibility, Jones said: "I suppose it is. It's hard to deny, but it's the very last option.
"We're fortunate we're all involved in a sport and a job we love. To fathom the fact we might not do that because of the severity of the situation is very real, but it's the last thing we want to do.
"There are people who are really impassioned. Ultimately, if you treat people badly for long enough, you get to where we find ourselves.
"We realise what we do and how fortunate we are to do it, but if this was any other line of work or any other industry for this period of time with this amount of uncertainty, you'd get the same reaction.
"We're very respectful to society as a whole. But it comes to a point now where the game in Wales has to make a decision on which way it wants to go."
Gatland said "no" when asked if he would support his players if they decided not to play against England.
But he added: "I completely support the stance they are taking in terms of wanting to get some resolution about the issues they have.
"But I think there are a lot things at stake in terms of ensuring that that fixture does take place.
"I am supportive of the players and the things they are trying to do.
"The players have been great in the last few days. They have got a separate issue they want sorted but when it's come to the rugby, they have been fantastic the way they have prepared in the last few days.
"There have been ongoing discussions with the union and the PRB (Professional Rugby Board) to hopefully get things sorted out.
"You can't blame players for being on contracts and money. If someone comes and offers you 30 or 40 grand more than you are now, if your salary goes up to 300 from the 260 you are on now, then how can you blame the players for accepting contracts?
"So it's a little disingenuous to say the players are being paid too much. I don't see how it's a fault of theirs.
"The bottom line is that we have been overspending in Wales for a number of years and some of the regions are in financial difficulty. That's the situation."
Jones, 37, is the world's most-capped player and has seen most things in Welsh rugby.
He spoke eloquently about the current crisis having seen various disputes unfold since his international debut in 2006 and said players must not be "held to ransom".
"I would like to says thank you, on behalf of the players, for the support that has been shown from the public and ex-players, particularly in the last 24 hours, because things appear to have come to a head," said Jones.
"It is disappointing as players are caught in in the middle again.
"It's the perennial conversation about funding, who has what, [we are] caught in the middle between the PRB and regions and union.
"It is disappointing [that] we are 20 years into regional rugby and it's the same things that have come around.
"We've had banding systems, Project Reset, I remember in 2019 we met about potential mergers, and the game has survived all of those things. It has come to a point where people are being affected, there is potential to affect families.
"This current period has come to a head after 18 months. This was supposed to be sorted a long time ago.
"Players who had the opportunity, or might have had the opportunity, to go somewhere else might not get that now because other teams are filling their rosters.
"The players haven't had a voice, whether it be through the WRPA (Welsh Rugby Players' Association), and decisions have been unilaterally made or we find out from you guys (the media) what is happening with people's futures, which isn't ideal in any professional or work environment.
"That's the disappointing thing, the basic treatment of players and the continued unprofessional nature of dealings.
"You don't want to see guys in their early 20s not knowing where their career is going to go. You're almost boxed in as a player with no option, which isn't ideal for anyone."
Jones said the scrapping of the 60-cap rule and re-negotiating the new players' contracts that will be offered could help resolve the situation over the next few days.
Wales' 60-cap rule, established in 2017, sees players who subsequently signed contracts to ply their trade outside Wales deemed ineligible for Test selection unless they have won 60 caps or more.
He also said the WRPA must be given a voice on the PRB.
"We just want to have an ear in the room to know what's going on," said Jones.
"We want a voice as well and a discussion about scrapping the 60-cap rule, that's come out so I'm comfortable in saying that, and the fixed variable part of the contract.
"We are well aware there are rebalances that need to be made financially but again it comes down to players being boxed in with their options in terms of the 60-cap rule and the contractual obligations.
"It's ultimately in motion now because dialogue has been had and as players we've voiced our concerns.
"We've probably done that in more of a messy way than we would have liked to because of certain things in the last 24 or 48 hours, but ultimately it's now down to the regions and the union to work on an option.
"Speaking on behalf of the playing group of Wales, we just want to play rugby.
"Everyone wants to play the game. It's about protecting the game to ensure it goes well for generations to come.
"We have to sort this out now. We can't go back into this cycle of uncertainty because it's not helping."
Gatland said the WRPA needs to have a stronger voice after stating it has been "incredibly weak" in the past.
Jones believes the body that represents Wales' players is improving.
"It's got better year on year," he added.
"Having been involved on that executive board for a while, there were times when those deliverables weren't met.
"Now we've got a much better foundation with a chief executive that's seemingly in control.
"We have WRPA reps in each region. There is a lot of stuff going on but the WRPA hasn't had the opportunity to have a voice or an ear with PRB on the decisions that affect players."
Wales' players, meanwhile, have made a squad decision to pause filming with streaming service Netflix, who are making a documentary on this season's Six Nations.
Netflix were not allowed to film the press conference with Jones not taking his seat until the camera crew had left the room.
Asked about reports that the squad left a sponsors' dinner early on Wednesday night as a protest, Jones said: "We went for the dinner and were present to show our face and thank all the sponsors. We went there, thanked the sponsors, and did our relations there."