Like any other failure after ECAM actions are completed a situational assessment needs to be done. Where you compare your options and evaluate risks and benefits of them. There are three options.
1. If you stay at original FL let's say 290, cross feeding the failed side you will create an imbalance which cannot be corrected and that side with active fuel pumps engine may be left with insufficient fuel for safe approach and landing or a flame out.
2. The second option is to descend immediately to FL150. That is about 5mts of descent which will not consume any significant fuel from same side. The fuel consumption at FL150 is not 250kgs more than FL290 for one hour of flight. This much extra you will always have.
3. Divert to nearer airfield.
This will only be considered if second option is not available.
So execute the second option.
Procedures do not take decisions for you.