The longitudinal and transverse components of the cross section for the ep→e′pρ0ep→e′pρ0 reaction were measured in Hall B at Jefferson Laboratory using the CLAS detector. The data were taken with a 4.247 GeV electron beam and were analyzed in a range of xB from 0.2 to 0.6 and of Q2Q2 from 1.5 to 3.0 GeV2. The data are compared to a Regge model based on effective hadronic degrees of freedom and to a calculation based on Generalized Parton Distributions. It is found that, at our lowest xB values, the transverse part of the cross section is well described by the former approach while the longitudinal part can be reproduced by the latter.