What kind of conditions do you live in (hot, dry, humid, etc.)?

How often do you water?

What kind of medium (potting material) is it in?

What kind of pot is it in (can't really tell from the photo), and does it have drainage?

For now I'll take a guess and say that the orchid is thirsty for water, either due to underwatering or loss of roots due to overwatering.

I live in the Houston Texas Area, I water when it is almost dry about once a week . It is in a clear plastic container with plenty of drainage. I put it in a decorative pot after it has had a nice soak. Yes I make sure there is no water standing in pot. I repotted it and it has a beautiful root system. I don't have it in bright light either.

I agree it needs more light and more humidity or more frequent watering. These also do not like to get and stay too warm, which is why I don't grow them down here in GA. But I love them.

I just showed your pic to an expert orchid grower who's also my neighbor. He said that your plant is very healthy and the leaf problem is heredity(sp). He said it's not anything to worry about and to keep on watering once a week. He said that over watering will cause rot and kill them since the roots are thin. Also repot ONLY once a year. It looks like you're good to go.

"I water once a week with bottled water ONLY....and to keep on watering once a week. He said that over watering will cause rot and kill them since the roots are thin."

Yes, but if conditions happen to be dry and hot for an extended period of time the plant may dry out faster and could require water more than once a week. I prefer not to water on a strict schedule, instead letting the plant tell me when to water.

Also repot ONLY once a year.

Again, this depends on the health of the orchid. If the orchid is perfectly happy and healthy, it can stay in the same media/pot for up to two years without needing a repot. However, if you repot the orchid into fresh media and then its roots begin to rot a few weeks later for whatever reason, then you're going to have to repot it again to address the situation.

It's better to under water than overwater. I'm sticking to my schedule since

I've had nothing but success. I live in central Alabama where our summer temps. are in the 90's and the relative humidity is in the 70's. It gets just as hot here as it does in my native Louisiana. Thank goodness for air conditioning. My air is running right now as temps are in the low 80's. I never put my plants outside. I must be doing something right since my plants are growing and I don't have any wrinkled leaves. Whatever works for you might not work for me. My plants seem happy with my routine and the majority of them are putting out spikes.