Celebrate the 88th anniversary of the discovery of Ruby Falls. Every visitor at Ruby Falls on Dec. 30 will receive a flyer with fun cave facts and a vintage style postcard to celebrate the occasion. The first 88 guests to tour on this day can take the tour for the original $2 entrance fee.In 1928, Leo Lambert and a team of excavators found a breathtaking waterfall located over 1,120 feet below the surface of Lookout Mountain in Chattanooga.