No, but you can catch the DragDrop event and insert a row at that point to catch the dropped row.
private void gridControl1_DragDrop(object sender, System.Windows.Forms.DragEventArgs e)
{
Point pt = this.gridControl1.PointToClient(Control.MousePosition);
int row, col;
this.gridControl1.PointToRowCol(pt, out row, out col, -1);
this.gridControl1.Rows.InsertRange(row,1);
}