There are three things that can update your Coverfly Rank:
Receiving coverage from one of our Coverfly-qualifying partners
Placing in a Coverfly-qualifying competition
Receiving a high score (while not placing) in a Coverfly-qualifying competition that shares individual scores with us.
Your rank is generally recalculated within 30 minutes of us receiving notice of a qualifying event. You can see all placements that have ever had an impact on your rank by going to your dashboard, selecting the project you wish to track, and then clicking 'View Submissions.' This page will also tell you the estimated announcement date for any competition you are still in the running for.
If there's a placement missing from that page, you can request a placement be added to your project.