Which two statements are true regarding the LSP?

Two statements that are true regarding the LSP are:

The LSP refers to a sequence of routers that forward the MPLS packet based on labels. An LSP is a Label Switched Path, which is a path through an MPLS network that is established by signaling protocols such as LDP or RSVP-TE. An LSP consists of a sequence of routers (called Label Switching Routers or LSRs) that forward packets based on labels rather than IP addresses. Labels are short fixed-length identifiers that are attached to packets at the ingress router and removed at the egress router. Labels can be swapped or popped at intermediate routers according to their label forwarding tables78.

The LSP refers to a sequence of routers that add, remove, or change label values along the path. As mentioned above, an LSP consists of a sequence of routers that forward packets based on labels. Along the path, different routers may perform different operations on the labels depending on their role and configuration. The ingress router adds one or more labels to the packet before sending it into the MPLS network. The egress router removes all labels from the packet before sending it out of the MPLS network. The intermediate routers may swap one label with another label according to their label forwarding tables. This process is called label switching78.

References: MPLS Fundamentals: 3 - MPLS Packet Forwarding, Multiprotocol Label Switching - Wikipedia