Then that is why the leaves have dropped, the roots have rotted. Give it time. As long as the canes are still firm, it has a fighting chance. It may just grow another basal growth where new leaves will form later. I adopted a noid Phal Den in 2013, well, it had roots and one active cane, but it is giving me now buds this year on the new growth. So pretty much your plant will just use the existing cane as source of energy for future new growth.