TBH, none of the designs I have seen in this thread convince me. I think in order to be a RE-style, the RL would need to be unique and not present in any other game.
Design ideas:
-maybe hexagonal or pentagonal in shape, at least on a part of the tube?
-a tube that extends by sliding forward as you shoot?
-a grip that is horizontal and mounted below the main body of the rocket?
-a steam exhaust all around the tube of the rocket near the player-end?
-a light ring on the shooting end of the barrel that lights up orange when the rocket is shooting (alternative: loaded)?
-a few bowed energy lines around the back of the rocket, glowing orange or white?
-a rocket shorter than the one you designed?
That are my ideas for now, I love seeing the modeling progress though.
Edit: looking at the grip again, you might have a better design than me there

how about making the orange part hexagonal? also, the tube is too big in diameter.