The mechanism of hysteresis formation in the I-V characteristics of the resistive Random access memory and having two conducting states one is the low ohmic state and the high ohmic state after setting and resetting it by an external voltage application can be explained by the formation of conducting filaments between the two electrodes in the set case and interrupting this conducting filament in the reset phase.
In case of RGO the filament will be formed by the negative oxygen ions starting from the negative aluminum electrode and ending on the positive Al down electrode. On completion of this filament the device will be switched from the high ohmic to the low ohmic. By reversing the voltage to positive values, the negative ions in the filament will be attracted again to top Al electrode gradually until it is depleted and interrupted.
You can find more information about the mechanism of the hysteresis by following the link: https://www.nature.com/articles/srep26763
The suitable material for constructing reRAM can be found in the review paper at the link:Article An Overview of Materials Issues in Resistive Random Access Memory