Remove limp leaves now?
 

I'm rehabilitating a rescue Phal that had no healthy roots except a few dark yet solid nubs. It is now growing two new roots, the one in the picture below and a smaller one just above the bottom leaf. It has also started a second new leaf above one it started the end of May.

My question is whether it is now ready to have the two most wrinkled and limp leaves removed. It will still have two somewhat limp leaves and the two new ones.

I don't see a picture.

If the leaves are otherwise healthy, leave them until they naturally come off. Leaves are the Phal's reserve storage.

Edit: I see the pic now, doesn't change my opinion.

I wasn't sure if the leaves were helping or hurting it at this point since they are so floppy.

Remove limp leaves now?
 

Agree with AnonYMouse, let the plant cast off unwanted leaves. Phalaenopsis use remaining leaves to develop other growth.

Agree with all above.
If it's not caused by virus or fungus, cut the leaf off may only increase the risks to get infection from the wound.

Leaves are where phals, and most other monopodials, store their energy reserves. The reason your plant has grown a new leaf is because the old leaf was being used as a store of that energy and is slowly losing that energy in the form of starches and sugars along with water. The plant knows what it is doing so leave it alone.

I agree with all the above. Even when they are yellow, wrinkly and unsightly, I let them fall off naturally (without cutting or pulling) to allow the plant to use up all the nutrients and energy left in the leaf.

I agree with leaving all leaves on until they drop on their own.

BTW, what are the beads in the picture? Glass marbles?

The bead like things are actually gel that holds and slowly released a huge amount of water. Dehydrated they are smaller than grains of rice and full of water they are about 3/5 of an inch in diameter. I tried using bark for this plant (my first orchid), but it slowly went down hill. With these, which allow lots of air flow in the open container, it is now doing much better. The gel balls are sold to display flowers in and to add to potting soil to increase water retention.

I wouldn't leave the plant in those beads for too long. Too much moisture without an intervening dry-out period.