ranking,rankin',etc. can also mean someone is hiding their affiliations, not representing their Identity when asked , usually by a rival gang when a gang member is in the wrong varrio,hood, or turf.
"eh holmes , where you from, eh?"
"um, nowhere , eh. uh, uh "
"tskchhhh, Chale!, holmes,you're focken RANKING esse."
A young man of limited interest, who gets a chance to sleep with the ranking babe in his neighborhood, and throws it away in order to marry her dorky daughter.
"Well, it is about a young man of limited interest, who gets a chance to sleep with the ranking babe in his neighborhood, and throws it away in order to marry her dorky daughter."