Ankle supports can brace, stabilize, and limit range-of-motion of the ankle joint.
Ankle supports provide joint protection to people with arthritic, weak, or injured ankles. Others use ankle supports during physical activity to help prevent sports injury of the ankle.
Both doctors and sports medicine trainers strongly suggest treating most kinds of ankle sprains using the R.I.C.E. formula. Simply put it's the following:
Rest for 24-48 hours while slowly attempting to put weight on the ankle
Ice during the first 48 hours after the injury; follow these instructions
Compression - get a wrap and wrap that ankle up and elevate it. This will help lower swelling and thus the pain
Elevate - keep that foot higher than your heart as much as possible. You may also want to take over-the-counter drugs to help alleviate pain and swelling. Swelling is often the cause of a majority of the pain, so make sure you are taking the correct drugs.
If you find that you are twisting, straining, or spraining your ankles often you may need to try some balance training. Pain caused by sprained ankles in athletes has little or nothing to do with strength or flexibility. In most cases sprains and strains are caused by poor balance, or proprioception. Luckily, balance can be learned so balance training is a great prevention tool.