Psalm 89:16

In thy name shall they rejoice all the day
That know the joyful sound, and walk in the light of God's countenance, as they have reason to do; these will "rejoice" in the Lord himself, for his "name" is himself; in the perfections of his nature, as displayed in redemption and salvation by Christ; in him as the God of all grace, as their covenant God and Father in Christ, and the God of their salvation; and they will rejoice in Christ, in his name, in which is salvation, and therefore precious; in his person, blood, righteousness, sacrifice, and fitness; and that "all the day" long, continually; there is always reason, ground, and matter for rejoicing in Christ, though it is sometimes interrupted by sin, temptation, and desertion; see ( Philippians 4:4 )

and in thy righteousness shall they be exalted;
from a low estate of sin and misery to an high estate of grace and glory; from a state of condemnation and death to a state of justification of life; from being beggars on the dunghill, to sit among princes, and to inherit the throne of glory; such as are clothed with the righteousness of the Son of God are exalted to great honour, as to be admitted into the presence of the King of kings in raiment of needlework, to stand at his right hand in gold of Ophir, and to live and reign with him for evermore in his kingdom and glory.