Radio-frequency identification (RFID) electronic license plate (RF-ELP) has been widely used to enable various automatic vehicle identification applications. Endowing RF-ELP with mobile vehicle sensing capabilities, such as localization and speed measurement is of practical importance, yet there is no solution on the shelf. Moreover, the position information is essential for accurate speed measurement, while the related RFID-based vehicular localization and indoor mobile localization methods suffer from at least one of the following major limitations: 1) difficult to deploy in practice; 2) requiring moving speed in advance; 3) only working for indoor-speed vehicles; and 4) not well compatible to frequency-hopping mechanism. To overcome the above limitations, this article proposes an RF-ELP-based mobile vehicle sensing (RESensing) system. RESensing conducts a new signal phase collection strategy to ensure the phase coupling in road-speed cases and converts phases of each interrogation to the relative speed to make it immune to frequency hopping and interinterrogation phase fluctuation. Then, the speed measurement and longitudinal localization are simultaneously performed by solving a nonlinear optimization model. Furthermore, the propagation model and antenna radiation pattern are investigated to facilitate the received signal strength index (RSSI)-based accurate lane-level lateral localization. To our knowledge, RESensing is the first RF-ELP-based speed measurement and localization system for mobile vehicles. The performance of RESensing is evaluated by real experiments under specifications of GB/T 37987 and EPC C1G2, which shows that RESensing achieves the mean speed error ratio of 4.34%, the longitudinal localization error of submeter level, and the lane estimation accuracy of nearly 100%.