With the explosive growth of digital data in the era of the Internet of Things (IoT), fast and scalable memory technologies are being researched for data storage and data-driven computation. Among the emerging memories, resistive switching memory (RRAM) raises strong interest due to its high speed, high density as a result of its simple two-terminal structure, and low cost of fabrication. The scaling projection of RRAM, however, requires a detailed understanding of switching mechanisms and there are potential reliability concerns regarding small device sizes. This work provides an overview of the current understanding of bipolarswitching RRAM operation, reliability and scaling. After reviewing the phenomenological and microscopic descriptions of the switching processes, the stability of the low-and high-resistance states will be discussed in terms of conductance fluctuations and evolution in 1D filaments containing only a few atoms. The scaling potential of RRAM will finally be addressed by reviewing the recent breakthroughs in multilevel operation and 3D architecture, making RRAM a strong competitor among future high-density memory solutions.