For all of us Grandmasters out there, will the XP we earned while being grandmaster will add itself in the new update? I really hope so, cause most people did a lot of quest while being grandmaster.
Level 50 is the current level cap in Wizard101. Players who are level 50 will cease to gain experience for duels and quests.
After level 50, no new experience is rewarded. Experience you would have received from quests or duels that you complete after you reach level 50 is lost, I'm afraid.