Shepard, a 2016 second-round pick, is expected to be "in the clear" after the ankle scare, a source told ESPN on Friday.
Shepard underwent an MRI on Thursday as precautionary after coach Ben McAdoo said initial tests revealed a "rolled ankle, a basketball-type ankle" injury.
The injury occurred while Shepard was running a route during a non-contact drill. He needed to be supported by trainers and was taken off the field on a cart.
Shepard, 24, is coming off a solid rookie season of 65 catches for 683 yards and eight touchdowns.