If more ice melts in the Alps, how does that lead to lower water levels in the Rhine? One would expect the reverse effect.
Another alternative is that, because temperatures are warmer and there is less water stored in the glaciers during winter and less melting in summer, there should be a wider depth variation between winter and summer but a similar average. Also not what the graph shows.
It seems like it is just less precipitation. (Which is climate change, possibly due to global warming)