Rick, I think Elaine is more optimistic than I am!
I am thinking crown rot set in and that plant is toast.
In nature these plants grow tilted, so that the water/rain can easily drain away from the plant and not sit in the crown and start fouling. Keeping them straightened out in their pots is not a good thing! Better to tilt the pot somewhat! When we keep them inside we can tissue out any water from the crown with a paper towel corner.
I had once turn a Phal overnight outside to a foul watery mush not having it tilted.
Edited - Jim and I cross posted! If you have plenty room, as we say "it doesn't eat any bread", sure - hang on to it until you are sure it doesn't recover.
