A black and white photo posted to Instagram shows the pair holding onto the hand of the newborn, who is wearing white knitted clothing.
Speculation over the choice of her unusual name came immediately, with some believing the couple chose Palma because of their strong ties to Mallorca in Spain.
The resort city was previously the setting for their pregnancy reveal photoshoot, and the pair are known to have visited for holidays in the past.
“Just a couple of days in our fave place before the Christmas build up begins,” Keegan posted to Instagram in November.
Wright and Keegan, who are both 37, met in Dubai in 2012 and married in May 2015.
In the past, Wright has been vocal about wanting to become a father.
“I’m just excited for the whole process. I’m just really excited and can’t wait for it to happen,” he told The Sun in the leadup to the birth.
“A parent shapes you. If you haven’t got a good upbringing, you can still end up being a good person but if you’ve got good parents, like we have, you’re going out into life [with] a massive head start”.
Soap star Keegan also took to social media throughout her pregnancy to reveal a number of updates.
Born in Stockport, Keegan said told Grazia that she spent most of the pregnancy at an apartment she owns in Manchester while filming her show Brassic and to be close to her friends.
Wright and Keegan were the victims of a home invasion at their £3.5 million ($7.9m) mansion in Essex last month, where four masked intruders broke into their home.
At the time, the pair said they were “very shaken up” following the incident.
