What does Exodus 2:24 mean?

The phrase indicating that God heard Israel's cries of pain uses parallel phrasing to the description of "groaning" in the prior verse (Exodus 2:23). They prayed, and He heard (Exodus 2:25), reminding us God always hears our prayers. Further, God "remembered" His covenant. This doesn't mean God had stopped being aware of it. Rather, this means God is deliberately choosing to act on His agreement. The covenant referred to here is the Abrahamic covenant (Genesis 12:1–3). God promised to bless Abraham and his descendants. They would become a great people and a nation. God would bless those who blessed them and judge those who judged them.

This covenant extended from Abraham to his son Isaac and Isaac's son Jacob. From Jacob came the twelve sons who became leaders of the twelve tribes of Egypt (Exodus 1:1–7), extending God's covenant to all the Jewish people. God's promise to Abraham was that his descendants would live in the land where Abraham walked, the land of Israel. This promise would be realized through Moses leading the people of Israel out of Egyptian slavery toward this Promised Land.