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It is possible to change the receptacle yes, but highly unlikely. Most receptacles in homes are wired in a bit of a loop so that the wiring runs from one to the other in the room. In order for you to be able to change the outlet to 240V it would have to have it's own dedicated run straight from the panel, and you could change it to a 240V outlet and 2pole 15amp breaker.
Most likely yes, you will have to run a new circuit 240V 15 amp from the panel and install a new receptacle. Or search for a 120 volt replacement unit.
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