It's true we don't actually know because R & R are an old legend, but they were supposed to have actually founded Rome by building it. And that could be true. There was a lot of migration and movement around Europe at the time, and for a small tribe or group lead by two brothers to decide to build a settlement in a fertile place beside a river - that makes sense to me. It may have been only a few huts surrounded by a defensive wall in the beginning.
So yes, it could well be a true story. Although I don't believe the story about them being taken care of by a wolf, not because it couldn't happen, but because children who have lived with wolves never develop proper language skills and are usually mentally ill, so couldn't be tribal leaders.
I'm doing a Masters in Ancient history