Is there anything that can be done about a complete separation of the collateral ligament of the pinkie toe?

It bends away from the foot laterally (sideways) to form a right angle on the same plane as the floor, and gives no resistance to being straightened or bent again. There is very little pain, swelling or discoloration---so I doesn't feel like the deep intense ache of my prior experience with broken bones. From what I could find online, it looks like careful straightening, buddy taping, and RICE advice for 6 weeks is all that is done for it.
Will the ligament likely reattach or resorb resulting in an unstable joint forever?