It reflects anything that can cause changes in latency between the pingbox and the device it is pinging.
If noise margin reductions are causing packet restransmits or packet loss it would show up, but a sharp cliff often simply reflects a very big file download.
thanks andrew, he has sharp cliff then extreme packet loss & high latency for almost 4 hours then sharp cliff, as far as im aware he has not been downloading any files during that time, I will have to ask.
cheers