Yes, ranks is a Scrabble word!

Verb

1. Take or have a position relative to others

2. Assign a rank or rating to

3. Take precedence or surpass others in rank

Noun

1. A row or line of people (especially soldiers or police) standing abreast of one another

2. Relative status

3. The ordinary members of an organization (such as the enlisted soldiers of an army)

4. Position in a social hierarchy

5. The body of members of an organization or group