There are several different ways to take care of this. If you are using a cloud computing provider (EC2 / OpenStack / Google Compute Engine), there is the concept of a floating IP address that can be moved around an API call. This eliminates the need to use things like VRRP.
Ultimately, this is best used using short TTL DNS records. Using this method also allows you more flexibility in using location-oriented applications (where DNS in different regions can be routed to the nearest place), simple transition to IPv6, and switching to another resource without the need to maintain your own internal routing infrastructure.
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