The ranking does not fire an event, so no, you can't.
I'm not sure you'd want to do it either. Every move of an issue through the ranking effectively re-ranks every issue. Even if you cut it down to only the items that are directly affected, a single issue move re-ranks five issues. A typical sprint planning session could easily cause thousands of emails to go out.
I have multiple projects that use variations of the same base workflow. The variations depend on the requirements of the project or issue type. The variations mostly come in the form of new statuses ...
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