You will typically fight opponents within your skill level. When you fight opponents in a Ranked Match you will earn LP (League Points). In addition to earning Fight Money for your battles (with 50 Fight Money per victory in Ranked and Casual matches), fighters will be able to battle for a spot on the leaderboards with the ranking system.
This is where you'll go to prove yourself the best, have sparring sessions with friends long-distance, or learn about the best players of SFV. It has a number of options for you to explore the world's warriors. Online is where you will likely spend most of your time with SFV. You can also adjust settings for Private Slots and comments, as well as hardware settings. Selecting 'OFF' will use the settings designated in Battle Settings. Choose whether or not to select the stage and characters before the battle. Adjust the number of games required to win a battle.