Complex sentence: Precision Application Protection refers to RASP's ability to almost entirely eliminate false positives by virtue of running within the application tier and thus having access to both application and user data and being able to differentiate between the two.
Split into simpler sentences: Precision Application Protection refers to RASP's ability to almost entirely eliminate false positives. RASP technologies can do this by virtue of running within the application tier and thus having access to application data and being able to differentiate between the two.