According to my understanding of movements, if you throw a ball (or shoot a cannonball) with a certain initial velocity $v_0$ in horizontal direction, its movement can be understood as a superposition of two independent movements: a free fall in vertical direction (e.g. vertical in relation to the surface of the earth) with a constant acceleration $g$ and a horizontal movement with constant speed $v_0$:
But if that is correct, shouldn't the movement of Newton's cannonball also be superposed with a one-directional movement with constant velocity $v_0$, as depicted below?
But as far as I can tell the second picture has to be incorrect, because the constant one-directional velocity would render the orbit unstable, wouldn't it?