The Marvel Rivals Website has details on what will happen when the second half of Season 1 begins next week in the multiplayer shooter. This includes good news, like cosmetic rewards, and bad news, like a rank reset. Players will drop four divisions, and word is when Season 2 begins players will drop six divisions. This will be adjusted as needed, but right now this is the plan for every season going forward:

Ranks will be reset when the second half of Season 1 starts on February 21, 2025. Based on your standing at the end of the first half of Season 1, prepare for a drop of four divisions. For example, if you ended the first half of Season 1 at Diamond I, you'll start the second half at Platinum II.

In the second half of the season, we will be rolling out new costume rewards for Gold rank players, along with brand new Crests of Honor. These Crests will recognize players at Grandmaster, Celestial, Eternity, and One Above All (the top 500), each with its own unique design to celebrate your skill!

Additionally, we want to ensure that only players who take part in the current season's competitive mode can earn the corresponding rewards. Starting from the second half of Season 1, players will need to complete at least 10 matches in competitive mode and meet the required conditions to claim their rewards.

Future Seasons and Half Seasons
Going forward, players can expect to kick off the start of each new Season with a drop of six divisions and the start of the second half of each new Season with a drop of four divisions. We will tune this as necessary!