Looks very young. It should grow roots eventually.

This is fairly normal for phalaenopsis. From your photo it looks like the leaves may have been under water, and you could return it to it former condition, and it will eventually grow roots. If it were mine, (Personal opinion here) I would return it to its water environment, but at this stage of its life I would only submerge the old bloom spike and the base of the keiki in the water. I would leave the leaves exposed to the air and wait for roots to be an inch or more long before planting it in a fine bark mix with a dome of clear plastic over the top of the pot to increase humidity. Your new plant will be an exact copy of mama. Good luck, Bill

Thanks Bill!

And Dave!