Justified by his grace as a gift, through the redemption in Christ Jesus. Paul places the core of the gospel in one sentence: righteousness is free. Not cheap, but dearly paid for by Christ and free for you.
Peace arises when you stop trying to earn righteousness and start accepting it as a gift. Redemption is not your project. It has happened.
Today: you are righteous. Without merit. By grace. That is your standing.