An ankle brace is configured to provide lateral and/or medial support of an ankle joint between the leg and foot and broadly includes an upper brace anchor secured to the leg above malleoli of the ankle joint and a lower brace anchor secured below the foot. The anchors are interconnected by a stabilizing strap that is tensioned between the anchors and serves to restrict inversion and/or eversion of the foot. The anchors and strap are also dimensioned and configured to permit dorsiflexion and plantar flexion of the foot.