That's because lipos have a very steep voltage drop after a certain point. Maybe that explains your behavior? It's dropping steeply, but recovers when you turn off the TX and falls off again after a bit of draw?
I set my planes to have low voltage alarm at 11 and critical voltage at 10.6. I land as soon as I get down to 11. For a transmitter pack, though, the current draw is so low that there is almost no voltage drop. Bear in mind that the transmitter may be drawing... I don't know... less than half an amp, surely. I would venture a guess it may be as low as 100 mA, depending on the output power of the radio, which I don't know. The LiPo battery may be something like 1500 to 2500 mAh. So we're at 0.3C draw rate or less. Because the draw rate is so low, we move down the precipitous curve of the LiPo voltage more slowly, and in a more predictable manner.
Personally, I have never had a problem running my LiPo transmitter pack down to around 10.5 volts or so. I know that the pack's absolute minimum is around 9.0 to 9.6 volts, which I will never even get close to. But in the range of 10.5 volts and above, the decline in voltage is so slow that I have never had a case where I got a surprise in the middle of a flight. Bear in mind that the voltage regulator in the 9x needs a minimum of about 7 volts, so there is no issue with inadequate headroom when running a LiPo cell. If you get down to the point where the regulator is unhappy, you've destroyed your battery entirely.
EDIT: If you are doing 40-minute long range flights or something like that, then this advice may not apply. Since none of my batteries last longer than 10-13 minutes at most, I'm just never in a situation where the transmitter is capable of being okay at the start of a flight, and dying in the middle.