Upgrade Challenger Charm through three ranks and it tops out at Agitator Lv3. The first rank costs 3,000z to craft, every rank after that is an upgrade. Some of the materials only come from Gogmazios, Guardian Rathalos, Jin Dahaad and three more monsters.
Rank by rank
Challenger Charm IRarity 5
Agitator Lv1: Attack +4 and affinity +3% while active.
Craftable · 3,000zChallenger Charm IIRarity 7
Agitator Lv2: Attack +8 and affinity +5% while active.
Upgrade from previous rank · 9,000zChallenger Charm IIIRarity 8
Agitator Lv3: Attack +12 and affinity +7% while active.
Upgrade from previous rank · 16,000z