Resistive random access memory and method of fabricating the same

Provided is a resistive random access memory (RRAM) including a first electrode layer and a second electrode layer disposed opposite to each other, a variable resistance layer located between the first electrode layer and the second electrode layer, an oxygen exchange layer located between the variable resistance layer and the second electrode layer, a conductive layer laterally surrounding a sidewall of the oxygen exchange layer, a first barrier layer located between the conductive layer and the oxygen exchange layer and between the oxygen exchange layer and the variable resistance layer, and a second barrier layer located between the conductive layer and the second electrode layer and between the second electrode layer and the oxygen exchange layer.