Yeah, I've heard it called that, but my Brit friends usually call it "posh." Incidentally, we have our own version of RP in the States, it's called the "Mid-Atlantic accent", many talking heads on news and radio are encouraged to imitate it if they come from the South of the US or New England.
FWIW : Oxford English and RP are different. Not to mention 'upper class English', which is a whole other ballgame. That is, of course, if you're English, when you can tell them apart within 5 seconds (yes, actually).
Personally, I have a 'perfect' RP accent (according to the Cambridge linguistics people who recorded me). But I find the whole class-antenna thing really irritating. So much so that I live in New York, where people just know I'm foreign, or putting on a fake accent.
But commonly it would be considered "upper class" within England, and probably considered "English" outside the UK.