The pacy wide-man was clattered by Domagoj Vida in the 14th-minute of Euro 2020 qualifier at the Cardiff City Stadium, with the Besiktas defender booked for his rash challenge.
The 21-year-old looked as if he would have to be substituted when a stretcher was sent on to the pitch, but he was able to rejoin the action after receiving lengthy treatment from medics.
“The physio came over but there was no problem,” Giggs said.
“We did all the [concussion] tests at half-time and he was fine.”
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James has twice been booked for simulation since joining United in a £15million move from Swansea last summer.
Giggs has defended James in the past, saying he is not a diver and needs greater protection from referees.
But Giggs suggested James was not as badly injured as many had feared after being sent sprawling by the combative Vida.
“He stayed down and was a bit streetwise,” Giggs said.
“He told the doctors ‘I’m not moving, I’m just sitting still’.
“Not to get anyone sent off, he was just using his nous.”
Wales kept their Euro 2020 qualification hopes alive after Gareth Bale struck in first-half stoppage time to cancel out Nikola Vlasic’s ninth-minute strike.
Bale’s 33rd goal for Wales, slotting home after some determined play from Ben Davies, gives them hope going into the final two rounds of matches next month.