I have looked at the right-hand end of your SNRM graph and can see nothing that is out of the ordinary. All of the small peaks and dips, both DS & US, are well within the expected range for minor, transient variations. I appreciate that your graph is for a two hour period but please take a look at my typical SNRM graph for a one hour period, below. There is no cause for concern . . . whichever one of the graphs is considered, yours or mine.
It is sudden, erratic changes in the SNRM, with wild swings, in both ways, that can be an indicator of a defective joint. Note the words "can be" . . . Such a suspicion is augmented if audible noise is noticeable when the telephone is in use.