This question is in reference to Atlassian Documentation: Re-prioritizing work items
Well, moving a work item from spot #3 to spot #1 is call "re-priotizing" in JIRA Portfolio and "ranking" in JIRA Agile. But my question remains: How are those two actions connected? Or put another way: By prioritizing I want to let my team know what is most important to me. How do they see that when looking at the Kanban board?
Priority is just a field to consider. Ranking is how prioritization of work happens on Kanban boards.
https://confluence.atlassian.com/agile/jira-agile-user-s-guide/working-with-issues/ranking-an-issue
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