How do humans develop hope in the face of seemingly irreparable harm against each other? Drawing on interviews and participant observation with 30 BIPOC Christians and 40 White Christians whom they identified as long‐term allies, in this article, I consider how a slim minority of White Christians develop ways of hoping that sustain lasting antiracist engagement. I identify contributing factors to reorientations of hope, focusing on a type of catalytic event that I analyze as a form of exchange. As economic anthropologists from Marcel Mauss to David Graeber have elaborated, structures and moralities of gift giving reveal and define relationships. I extend that theory to argue that experiences of exchange relationships in turn shape the ways people hope. I trace a logic of exchange that interlocutors conceptualized using the term grace, an incongruous, freely given gift that anticipates future relationship in the context of unrepayable debt. As White Christians became highly aware of the systemic and historic immensity of racial injustice, their combined awareness of indebtedness and grace became formative to new kinds of relationship and hope. In response, they imagined and pursued a society in which love and repair across chasms of past harm are not taken for granted but are not impossible.