Yep, the engine's true oil pressure rises & falls in direct relationship to the engine RPMs. The oil pump is engine driven so as the engine revs higher, the oil pump pumps harder which raises the oil pressure.
A good rule of thumb for acceptable oil pressure is around 10 psi for ever 1000 engine RPMs.
Caution that newer TJs had their oil pressure gauges reprogrammed so they no longer show the real ups and downs of oil pressure. It was alarming too many new Jeepers who had never had a real oil pressure gauge before they bought their Jeep and didn't know how oil pressure works.