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Is it reachable from internet if I attach it to my instance

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An Elastic IP address is a public IPv4 address which you can allocate to your account and is reachable from internet. You can associate/disassociate it to/from instances as per your requirement. And is associated with your AWS account. When you attach an Elastic IP to your instance, it does not change if you stop/hibernate your instance. A disassociated Elastic IP remains allocated to your account until you explicitly release it.

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