(a) Right reception of the Lord's Supper has a "humbling" effect on the soul. The sight of the bread and wine as emblems of Christ's body and blood, reminds us how sinful sin must be, if nothing less than the death of God's own Son could make satisfaction for it, or redeem us from its guilt. Never should we be so "clothed with humility," as when we receive the Lord's Supper.
(b) Right reception of the Lord's Supper has a "cheering" effect on the soul. The sight of the bread broken, and the wine poured out, reminds us how full, perfect, and complete is our salvation. Those vivid emblems remind us what an enormous price has been paid for our redemption. They press on us the mighty truth, that believing on Christ, we have nothing to fear, because a sufficient payment has been made for our debt. The "precious blood of Christ" answers every charge that can be brought against us. God can be "just and the one who justifies those who have faith in Jesus" (Romans 3:26).
(c) Right reception of the Lord's Supper has a "sanctifying" effect on the soul. The bread and wine remind us how great is our debt of gratitude to our Lord, and how thoroughly we are bound to live for Him who died for our sins. They seem to say to us, "Remember what Christ has done for you, and ask yourself whether there is anything too great to do for Him."
(d) Right reception of the Lord's Supper into hearts, has a restraining effect on the soul. Every time a believer receives the bread and the wine he is reminded what a serious thing it is to be a Christian, and what an obligation is laid on him to lead a consistent life. Bought with such a price as that bread and wine call to his recollection, ought he not to glorify Christ in body and spirit, which are His? The man that goes regularly and intelligently to the Lord's Table finds it increasingly hard to yield to sin and conform to the world.
Taken in part from J.C. Ryle's book The Lord's Supper.
Other parts of his letter:
Why was the Lord’s Supper ordained?
Who ought to receive the Lord’s Supper?
What benefits are in receiving the Lord’s Table
What effects are in receiving the Lord’s Table
Warnings concerning the Lord’s Table