In this article, we study Prasad's conjecture for regular supercuspidal representations based on the machinery developed by Hakim and Murnaghan to study distinguished representations, and the fundamental work of Kaletha on parameterization of regular supercuspidal representations. For regular supercuspidal representations, we give some new interpretations of the numerical quantities appearing in Prasad's formula, and reduce the proof to the case of tori. The proof of Prasad's conjecture then reduces to a comparison of various quadratic characters appearing naturally in the above process. We also have some new observations on these characters and study the relation between them in detail. For some particular examples, we show the coincidence of these characters, which gives a new purely local proof of Prasad's conjecture for regular supercuspidal representations of these groups. We also prove Prasad's conjecture for regular supercuspidal representations of G(E), when E/F is unramified and G is a general quasi-split reductive group.