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I've just spent the last four hours troubleshooting what I believe is this exact same issue. I was replacing an RV320 with an RV340 because of issues we were having with the VPN. It's also connecting to the WAN via static IP address with a 255.255.255.252 subnet mask. I'm using the latest release of the firmware, 1.0.03.16.
Upon replacement, my pings to the public IP address began to respond for maybe 15 seconds and then ceased to respond altogether. Also, pings from the router's GUI (Administration > Diagnostic) were unsuccessful. What's crazy to me is that the VPN tunnel was up and running the whole time, I was able to ping across the tunnel to the router and even to devices on their LAN, despite the router's own inability to ping google.com, 126.96.36.199, or even the WAN interface's default gateway IP address. Again, I emphasize, that's crazy.
I reverted the router to defaults and then the only configuration I made was of the WAN interface with the 255.255.255.252 subnet mask, and I configured the firewall to allow WAN requests. And the same thing occurred again, it responded to pings for maybe 15 seconds and then stopped, and yet again neither the LAN or the router itself is able to ping out.
I reinstalled the old RV320, with the exact same static IP WAN configuration, and it's connecting just fine, the only problem with it is its VPN function. Going to be sending them another replacement router, this time an RV320.
See my attached configuration file (converted to .txt for submission here) from before I reverted the router to defaults.
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