In the state of Grace I am at peace with God and resting in the peace and favor of God. Although Grace is a noun, we can rest in it, stand in it, grow in it, or (hopefully not) fall from it. Since we do nothing of our own power and ego works to obtain grace, it is ours as children of God by faith.
The opposite of standing in Grace is reflected in the words of Jesus to Saul of Tarsus: "Why are you kicking against the goads?" We struggle, we strive, we fight against the calling of the Father when we do not stand in grace and peace.