The red lights in the ink button and paper button are blinking

The symptoms line up with the WIC NVRAM count being at 100% - the waste ink pad is full. These L310s were modified cartridge models which also inherited the small 2010+ waste pad, something that wasn't an issue until they moved away from the good ones like the R200, R280 and Artisan 50 where the pads lasted 10+ years, even under heavy use. The problem with those now is except the 88/69/68 models like the Artisan 50 they are increasingly at risk due to the OEM ink being well into the 10+ year range when Epson only sells it for ~10-15 years for everything except popular models. Sometimes a few supplies survive to 20+ but they have to sell.

That being said, it isn't a hard fix, BUT the parts aren't easy to find and can be pricey outside of the US. The part numbers I can find are 1627961 and 1577649. It isn't expensive to replace the pad as it's a super common pad that's been used in most models like the "headless" XP series and a lot of headless Stylus esque models -- you can get them for $12 on eBay in the US, but the price will vary quite a bit depending on where you are as this model is an ROW machine - we never got them until the EcoTank ET- nameplate in the US. In Epson land, L is their ROW nameplate to make grey market printers obvious. The pad is probably cheap - it's the reset that costs a lot. You can use WIC Reset Tool or see if a copy of the Epson adjustment software has leaked for it, but most of the time WIC is the only option. The tool is free, but the key is potentially expensive.

The good thing is once you replace the pad and reset the counter it will be fine - but the rub is the borderless pad is also a point of failure and those are much harder to find as they are part of the platen and Epson probably doesn't sell those for low end models and forces you to buy the platen, which also includes the printhead and again, will need the Epson tool to dial in the printhead it comes with because the user facing alignment assumes the factory adjustment is done.