Grice, France's Loick Jammes and Ireland's Denis Coulson were detained yesterday after a 21-year-old woman said she had been drugged, taken to a hotel and raped after a French Top 14 game between Bordeaux and Grenoble this month.
Grice is a former Waikato and All Black Sevens player.
"The detention has been lifted," Bordeaux prosecutor Marie Madeleine Alliot said in a statement.
"The investigation will continue in the coming days."
None of the three players have been formally charged.