Valorant Patch 0.49: Competitive Mode to be Added, Stability Fixes
By Andrew Lin

Valorant Patch 0.49 will see the implementation of Competitive Mode.
Riot will be skipping 0.48, so the next update will be 0.49. Game Director Joe Ziegler tweeted that 0.49 will be arriving sometime within the next week.
Some clarity: there is no patch 0.48, the next patch will be 0.49. Rated mode will go live as soon as we're confident in the stability of that that patch on live. Current ETA for 0.49 is sometime next week. Will let you know more specifics as we get closer.
— Ziegler (@RiotZiegler) April 24, 2020
Valorant Patch 0.49: Competitive Mode To Be Added
An update on the official Valorant site by Riot Senior Producer Ian Fielding outlined how the ranked system in Valorant will work. In the update, Fielding says the first iteration of the competitive matchmaker will go live soon after the 0.49 update.
Heading into this weekend: we're actively working on a number of server stability issues, and think we have fixes in for people with unusually low framerate and a solve for the 6v5 exploit. Looking into a few other errors that are popping up. Thanks for your patience!
— VALORANT (@PlayVALORANT) April 24, 2020
Information on Agent balances aren't known yet, but we could expect to see some hotfixes for some major bugs like Cypher's Spycam see-through-walls glitch. Players have also reported several map specific issues, and there will be server stability fixes as well.
Player involvement and hype is at an all time high for Valorant, which is good for bug fixing since the game is barely out of alpha. Bugs and glitches are to be expected, and that's the whole point of running a beta. Riot is working overtime on fixing everything as they pop up.
If you in on the Valorant action, you can get into the closed beta by linking your Twitch and Riot accounts and watching streams.