I'm a little confused, as you can't have a balanced signal coming out of an RCA. So any RCA2XLR converter will result in no changes. The XLR will have one "hot" and one "return", not two "hot"s of opposite polarity and a return (common). Same if you go the other way, from XLR2RCA, one of the phases gets ignored.
If you want true balanced operation, you cannot have any RCAs in the path. The XLR is a 3-wire connection. I like to use the analogy of a seesaw: two ends and a pivot point. Relative to the pivot point, the signal at either end is the same, just inverted. For a cartridge, the pivot point has to be introduced by the receiver (phono input), as the cartridge only has two pins. This is only possible with a fully balanced input stage using a differential pair with ground reference or similar "instrumentation" type amplifier. The alternative is to use a center-tapped input transformer (a step-up) with center-tap grounded (or whatever reference voltage you want).
My preference is for the tranny. The reason is because of the resulting common mode impedance. For example, with the differential pair, you run 23.5k ohms to ground on each input (both pos and neg). That gives a differential loading on the cartridge of 47k ohms and a common mode impedance to ground of 11.75k ohms. That's still a pretty high resistance for referring to ground. It is still possible to induce some 60Hz hum noise in the common mode, which then has to be rejected by the ac balance of the input stage. If the stage uses tubes, this balance is not perfect (except for maybe the moment it leaves the factory) and drifts over time and temperature. You get good rejection, but not perfect. Anyway, some of that 60Hz hum might get through. With the tranny, the common mode impedance to ground is only a few ohms. That's a 1000x improvement. Ok?
So first thing you have to do is find out if the phonostage is really balanced or not. Just because it has an XLR connector means nothing. Some designers do this for pure marketing, and run the input single-ended. Don't cut your cables until you know.
jh