The Obama administration’s executive order was based on taking the plain language of Title IX regarding sex discrimination and reinterpreting “sex” to mean “gender identity.” You have to admit that’s a stretch.
It is, in fact, a change in the law of a magnitude that usually requires an act of Congress. Which is why the thirteen states which sued the federal government over this rule were successful in getting a federal judge to issue an injunction against its enforcement.
What President Trump has done is withdraw the rule, which is, arguably unconstitutional anyway, and given up on appealing the injunction.
There is still the Gavin Grimm Supreme Court case coming up. It will be decided on the merits of the case, not on the executive power of the President or the relative rights of states vs the federal government.