a question about ranked

So, i never ranked before and i just finished the placements to get the 2500 exp. I was put in bronze 2, don't know if it's a good result and don't really care if it isn't. My question is: how does ranking work? i'm 90% sure i'm not going to rank again for the rest of the season so am i going to stay bronze 2 or am i going to be degraded to 5? just curious because i heard about people losing rank for inactivity
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