Significance and legend
Rama is a name of Goddess Lakshmi, and this Ekadashi falls a few days before Diwali. In the Brahmavaivarta Purana dialogue, Krishna tells Yudhishthira of King Muchukunda, a devotee of Vishnu, in whose kingdom even animals were kept from food on Ekadashi. His daughter Chandrabhaga was married to Prince Shobhana, who was physically frail. When Ekadashi came while Shobhana was visiting his father-in-law, the royal decree required him to fast. Chandrabhaga feared for him, but he resolved to keep the vow, and he died during the night.
By the merit of his fast, Shobhana was reborn as the ruler of a magnificent kingdom on Mount Mandarachala, but because he had fasted without full faith, the kingdom was unstable and could vanish. A Brahmin from Muchukunda's city discovered him there and carried the news to Chandrabhaga. She went to the mountain with the help of the sage Vamadeva and offered her husband the merit of all the Ekadashis she had observed since childhood. By that merit the kingdom became permanent, and the couple lived there in happiness.
How Rama Ekadashi is observed
Devotees fast and worship Vishnu together with Lakshmi, offering tulsi, lotus flowers, sweets and lamps, and many also clean and light their homes in anticipation of Diwali. The story of Shobhana and Chandrabhaga is read, and the Vishnu Sahasranama or Lakshmi stotras are chanted. Night vigil is kept. The fast is broken on Dwadashi after sunrise within the parana window, with food first offered to the Lord.