rvm --rvmrc --create 2.0.0@project_name

.rvmrc

#!/usr/bin/env bash

# This is an RVM Project .rvmrc file, used to automatically load the ruby
# development environment upon cd'ing into the directory

# First we specify our desired <ruby>[@<gemset>], the @gemset name is optional,
# Only full ruby name is supported here, for short names use:
#     echo "rvm use 2.0.0" > .rvmrc
environment_id="ruby-2.0.0-p247@project88"

# Uncomment the following lines if you want to verify rvm version per project
# rvmrc_rvm_version="1.22.3 (stable)" # 1.10.1 seems like a safe start
# eval "$(echo ${rvm_version}.${rvmrc_rvm_version} | __rvm_awk -F. '{print "[[ "$1*65536+$2*256+$3" -ge "$4*65536+$5*256+$6" ]]"}' )" || {
#   echo "This .rvmrc file requires at least RVM ${rvmrc_rvm_version}, aborting loading."
#   return 1
# }

# First we attempt to load the desired environment directly from the environment
# file. This is very fast and efficient compared to running through the entire
# CLI and selector. If you want feedback on which environment was used then
# insert the word 'use' after --create as this triggers verbose mode.
if [[ -d "${rvm_path:-$HOME/.rvm}/environments"
  && -s "${rvm_path:-$HOME/.rvm}/environments/$environment_id" ]]
then
  \. "${rvm_path:-$HOME/.rvm}/environments/$environment_id"
  for __hook in "${rvm_path:-$HOME/.rvm}/hooks/after_use"*
  do
    if [[ -f "${__hook}" && -x "${__hook}" && -s "${__hook}" ]]
    then \. "${__hook}" || true
    fi
  done
  unset __hook
  if (( ${rvm_use_flag:=1} >= 2 )) # display only when forced
  then
    if [[ $- == *i* ]] # check for interactive shells
    then printf "%b" "Using: \E[32m$GEM_HOME\E[0m
" # show the user the ruby and gemset they are using in green
    else printf "%b" "Using: $GEM_HOME
" # don't use colors in non-interactive shells
    fi
  fi
else
  # If the environment file has not yet been created, use the RVM CLI to select.
  rvm --create  "$environment_id" || {
    echo "Failed to create RVM environment '${environment_id}'."
    return 1
  }
fi

# If you use bundler, this might be useful to you:
# if [[ -s Gemfile ]] && {
#   ! builtin command -v bundle >/dev/null ||
#   builtin command -v bundle | GREP_OPTIONS="" \grep $rvm_path/bin/bundle >/dev/null
# }
# then
#   printf "%b" "The rubygem 'bundler' is not installed. Installing it now.\n"
#   gem install bundler
# fi
# if [[ -s Gemfile ]] && builtin command -v bundle >/dev/null
# then
#   bundle install | GREP_OPTIONS="" \grep -vE '^Using|Your bundle is complete'
# fi

readme.md

RVM stands for Ruby enVironment Manager

Ref

#create new gemset
rvm gemset create [name of gemset]
#create rvmrc file
rvm --rvmrc [ruby version here]@[name of gemset]
#create rvmrc file
rvm --rvmrc --create [ruby version here]@[name of gemset]