In a sauce pot, add raspberries, peaches, water, and sugar. Bring to a simmer and cook for 10-15 minutes until the fruit is soft
Allow the fruit to cool slightly and then puree with an immersion blender or carefully pour into a blender and blend (while vented) until smooth.
Using a fine mesh sieve or a cheesecloth over a bowl, strain the fruit liquid to remove all of the pulp and seeds. Set aside.
In large pitcher, combine lemon juice, water, and ice. Pour in raspberry peach mixture and stir to combine.
Serve immediately over ice or allow to cool in the fridge