I sent a mail to an invalid id on 08/02 (Job Id - 238837),till now the status is 'InProcess' with gammacode '9554 (Transaction Failed)'. Will the status be changed ? When can we stop checking this job ?
Your delivery is in retry mode on the queues - the retry cycle appears to extend for about 3 days. So your job should finish its delivery cycle by sometime on August 4.
The status will not change, since the delivery ID is invalid; the system will just keep retrying until its retry loop expires.
Note that the behavior in the test domain is slightly different than what you would see in production. In the production configuration, the retries happen in the background after the initial attempt, so the jobs actually finish their processing more quickly.