You need to isolate him in a cycled hospital tank and start treating with a med. that says it treats dropsy immediately. Preferably an antibiotic that is administered through the fish' food. At this stage, the fish actualy has organ failure and probably won't survive. If he stops eating, euthanise him using clove oil as he'll have gone beyond the point where he might still recover. Make sure not to flush the dead fish and risk introducing disease to local waterways.
If you cannot isolate, treat the whole tank but watch the fish carefuly. If he stops eating, it's even more important to euthanise or remove the fish as, once he dies, if the body is nipped by the fish in the tank, they can easily contract what he has.