For those experiencing increased pings and reduced upload speed but download speed (especially speedtest) seem mostly unaffected. Here's another possibility. That your router is being utilised as a zombie in an Amplification Attack.

The above is a Mikrotik RB951Ui-2HnD router being used as a zombie in a DNS Amplification Attack. Firewall rules were disabled and routed rebooted. About 36hrs later the router was acquired and the attack started. They're not attacking you. They're using you to DDOS someone else.
Symptoms:
1) Blinking WAN light when no-one is using the internet
2) Increased pings
3) Slow upload but normal download speeds (from above you can see upload is maxed out)
4) Reboot solves the problem until hours or days later. (when the bad guys reacquires your new IP address)
5) Thousands of connections to port 53 DNS. If your router runs out of memory, it slow down or locks up eventually.
6) High CPU usage. Usually when this happens, your router web config page takes awhile to load.
If your router is powerful enough, you might not even notice it.
Solution is to lock down your router. At the very least deny access to port 53 DNS from WAN.
Ensure that your router has a good password or disable remote management.
Notes:
Stock TM router RG4332 - has port 53 opened to the WAN but is safe from DNS amplification attack as it's not a recursive DNS resolver. Not sure if this can be changed in router configuration page.
Mikrotik - default config denies access to port 53 but can be changed if router login is compromised.
Asus: tbd
DLink: tbd
TPlink: tbd
Apple: tbd