Raelyn is a 21st century American female name invention. It's merely the combination of appealing sounds, in this case Rae, which is the common short form of Rachel, plus the popular “-lyn†suffix. Because Raelyn is essentially a made-up name there is no etymology or meaning associated with it.
[ syll. rae-lin, ra-el-in ] The baby girl name Raelin is pronounced REY-LihN †. Raelin's origin is Germanic and Hebrew. Raelin is a form of the English, Hebrew, and Scandinavian Rae. ... Raelin is seldom used as a baby name for girls.