You want to anticipate what that new growth will do when it is full-sized. It is quite close to the edge of the pot, so that when it is full-sized, it is very likely to be pressing against the side or climbing out. If it were my plant, I would repot. You can probably use the same pot if it is well-drained. (I like the kind that has a sort of "mesh" in the bottom rather than just a few holes, but depends on what you have). The plant can be repositioned, with the old part of the plant against one side rather than in the middle of the pot. If you orient it so that it's on the diagonal (oldest p-bulb in one corner, the new one pointed toward the middle) you maximize the growing space. It will give you a chance to see what the medium looks like. But if it is what it came in when you bought it, probably needs replacing anyway unless the plant came from Sunset Valley Orchids, and that doesn't look like their bark.
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