Two things are in the past.
One. "[B]eing now justified by His blood,"
Two. "[W]e were reconciled to God by the death of his Son,"
The blood refers to His suffering, both spiritual and physical. It is the "blood of sprinkling", not the "shed" or poured out blood which was the proof of his death.
His spiritual suffering, separation from the Father and the Spirit, was at an end when He said, "It is finished" (John 19:30).
He then lay down His life, no man could take it from Him. In John, the Gospel of the Son of God, He, literally, handed over His spirit to the Father.
This was His physical death, which the words "cross" and "crucify" are used to symbolize in scripture.
The blood signifies the suffering, which makes the believer righteous or justified in God's sight.
It is the cross, the death of the Lord, which reconciles the believer to God.
In "tast[ing] death for every man", the Lord experienced both physical and eternal death.
In His suffering He experienced eternal death, the "second death" in the "lake of fire", complete separation from God, so that the believer would not have to experience it. (Save as the "conviction" of being eternally lost in sin that frequently explicitly precedes conversion.)
In His physical death, the believer is said to have died with Him. And in this manner is reconciled to God.
The believer is said to be dead to sin and to the law.
The believer is said to have been crucified with Christ.
And specifically, the believer's "old man" has been crucified. The believer has crucified the flesh. The believer has been crucified to the world, and the world to the believer.
That is the reconciliation brought about by the cross, by the death of the Lord.
And those who have no share in that death and reconciliation, have no share in resurrection and the present newness of life that has been given through the glory of the Father to them that believe.
