Ranking in Google Sheet

I have some data about people on my Google Sheet and they are given some points based on their activities. What I want in the next column is that their rank based on their points. I would change the points manually on a regular basis and accordingly, their rank should be changed automatically with a formula.

At present the data ranging from A1 to J50 where row 1 is the header. I need the rank in K.

I would like to know to rank in two ways. One in numerical. Like, Rank 1, 2, 3, etc. Other in text, 'Outstanding', 'Good', or any text.