There are multiple origins and meanings for the name:
1. Arabic name, meaning - "banner, flag, standard; ensign; color; watered"', see the name Rayah
2. Diminutive form of the given name Raisa - "matron"
3. Hebrew name (רעיה) meaning - "wife, girlfriend, female friend"
4. Comes from the Slavic word рай [ray] - "paradise, paradisaic, Eden"