MoonThe moon is continuously falling towards the earth but missing all the time! Same with other planets too.
In general, in an inverse square central force field one can calculate the trajectory of a particle and verify that the trajectory is either a parabola or ellipse or hyperbola (conic sections) depending upon the initial position and initial momentum of the particle. For a two body system with certain initial conditions, it is a stable elliptical orbit. In case of the sun and the earth it is an ellipse (ignoring gravitation of other objects and also ignoring the relativistic precisionprecession of orbit).