Apex Legends' Season 2 update has now arrived, bringing with it a whole host of improvements. Kings Canyon got a massive makeover, Leviathans and Flyers are all over the place, the weapon balance has been shaken to its very core with weapons like the Alternator becoming top-tier, and there's even a brand new legend called Wattson!
Out of all these changes, the one that will likely have the most impact is the introduction of Ranked Leagues. These Ranked Leagues are essentially competitive seasons where players can climb through numerous tiers in order to face off against better competition, and naturally, get better rewards. Right now only badges have been confirmed as a ranked reward, though Respawn has said they are working on something else as well, so we'll just have to wait and see what happens.
What they have detailed, however, is just how the Ranked Leagues will function. There are six competitive tiers (Bronze, Silver, Gold, Platinum, Diamond, and Apex Predator), the first five of which have four divisions within them. Initially everyone will start off in Bronze IV and will have to fight their way upwards, while future seasons will place you based on your previous performance.
Your progress will be dictated by your Rank Points (RP), a 'currency' that can be earned by doing well in the ranked mode and spent in order to enter the matches themselves, with higher ranks requiring larger amounts of RP to enter. Kills are worth 1RP (up to a maximum of 5), while placing Top 10 or better will give you increasingly larger amounts of RP, topping out at 12RP for winning the match. In other words, the higher up the ladder you go, the more careful and calculated you should play as quick losses are going to burn through your RP incredibly quickly.
While it's a bit over-complicated, it seems to function pretty much exactly like rating systems in other games, so I wouldn't worry too much about your RP and how it fluctuates. Also, there is currently no demotion if you drop into a lower tier, so if you find yourself in Platinum IV, no amount of losses will boot you back into Gold I. Things might change in the future based on what data Respawn gets from this season, but so far it seems like Apex Legends will follow a rather familiar and comfortable competitive formula.
You can read a little bit more about the Ranked Seasons, as well as Respawn's plans for the game mode, over at Reddit. Good luck on your ladder climb!