Until now, the spectral changes observed from persistent to dipping intervals in dipping low-mass X-ray binaries were explained by invoking progressive and partial covering of an extended emission region. Here, we propose a novel and simpler way to explain these spectral changes, which does not require any partial covering and hence any extended corona, and further has the advantage of explaining self-consistently the spectral changes both in the continuum and the narrow absorption lines that are now revealed by XMM-Newton. In 4U 1323-62, we detect Fe XXV and Fe XXVI absorption lines and model them for the first time by including a complete photo-ionized absorber model rather than individual Gaussian profiles. We demonstrate that the spectral changes both in the continuum and the lines can be simply modeled by variations in the properties of the ionized absorber. From persistent to dipping the photo-ionization parameter decreases while the equivalent hydrogen column density of the ionized absorber increases. In a recent work (see Diaz Trigo et al. in these proceedings), we show that our new approach can be successfully applied to all the other dipping sources that have been observed by XMM-Newton.
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