A variable reference based sensing scheme is described. In one example, performance of a memory command to access a crosspoint memory device such as a memory read or memory write command involves a sensing operation. In one example, a memory read operation involves applying a voltage across the memory cell and sensing current through the cell. The current through the memory cell is compared with one of multiple reference currents to determine the state of the memory cell. The reference current is selected based on the voltage applied across the memory for the sensing operation. Different reference currents may be used for different types of operations. For example, different reference currents may be selected for a write sensing operation than for a read sensing operation.