In order to keep the leaderboard competitive, especially in higher ranks, the Skyweaver ranking system has a monthly hard reset, as well as a weekly soft reset. At the end of each season (monthly), Rank Points are reset based on the following table, which affects your rank:
Each season has 4 weeks, and each week ends every Monday, 2 p.m., UTC (soft reset). This is also the time that the top players are determined and will be given their corresponding weekly rewards.
Read more about the ranking system here.