Ping Increased?

So, I play a popular MMO with some friends quite a lot, and my internet has been great. This past week or two, however, my ping has increased to the point where I can no longer react to things happening in game quick enough to be of any good. While I totally realize this is a first-world problem, it has made playing online with my friends unbearable. I've done all the basic stuff on my side (make sure other internet usage is limited, etc.), but the latency is still huge. I have preferred internet service and my stats from the Ookla speed test were all over the board; my ping started around 30 but spiked all over the place up to over 300 (which is crazy), download speeds around 40, and upload hung around the same place. It's not the game I play with my friends for several reasons: there has not been a recent patch to the game, and all other online games that have not been patched in ages suffer from the same thing. Help?