-- This month was named Ramadan (رمضان) which is the source (مصدر) of the word #Ramida (رَمِضَ) which means an "intensification in hotness"; then "month" was added to it to make it (Month of Ramadan).
-- So it is named "Ramadan" due to the intensification in the state of hunger and thirst.
It was also said in another narration to be named as Ramadan because it incinerates sins with all the good/righteous deeds that the month of Ramadan is designed with.
عَنْ أَبِي هُرَيْرَةَ، قَالَ قَالَ رَسُولُ اللَّهِ صلّي اللّه عليه وسلّم " مَنْ صَامَ رَمَضَانَ إِيمَانًا وَاحْتِسَابًا غُفِرَ لَهُ مَا تَقَدَّمَ مِنْ ذَنْبِهِ ".
Narrated by Abu Huraira:
Allah's Apostle said, "Whoever observes fasts during the month of Ramadan out of sincere faith, and hoping to attain Allah's rewards, then all his past sins will be forgiven."
-- Allah started the revelation of AL-QUR-ANUL KAREEM in this month during the (night of majesty).
-- The AL-QUR-ANUL KAREEM with its miraculous and evident verses serves as a divine everlasting guidance from Allah Almighty to humans.
-- It guides to the right/truth as it distinguishes it (the right/truth) from wrong/false with its detailed rules/judgement for our synergetic religious and life interest.
This is Allah Almighty's Grace/Favor on us by making fast compulsion on us in this month.
Ubaydah bin Saamit reports that Prophet Muhammad one day said when Ramadan had drawn near, "Ramadan, the month of blessing has come to you, wherein Allah turns towards you and sends down to you His special Mercy, Forgives faults, accepts prayers, looks at your competition for the greatest good and boasts to His angels about you. Do show Allah your righteousness from yourselves. For Verily the pitiable and unfortunate one is the one who is deprived of Allah's Mercy in this month.
*To this end, all thanks belong to Allah Almighty on his blessings on us through ISLAM.