A relative sea level rise tracks the rising position of of sea surface relative to a fixed datum near the sea floor. This effect takes into account two components: eustasy and vertical movement of the sea floor (tectonism and/or sediment compaction) (Posamentier, 1999). In the case of a relative sea level rise, Catuneanu (2002) equates this with a rise in base level and has produced a series of diagrams that capture this effect, differentiating between the effects of tectonics, eustasy and sedimentation. The relative sea level fall is the mirror image of this.
References
Catuneanu,O., 2002, Sequence stratigraphy of clastic systems: concepts, merits, and pitfalls Journal of African Earth Sciences, Volume 35, Issue 1, Pages 1-43
Posamentier, H.W., Allen, G.P., 1999. Siliciclastic sequence stratigraphy: concepts and applications. SEPM Concepts in Sedimentology and Paleontology no. 7, 210 p
