What you're seeing is likely the result of the data switching to the new week. What you did over the weekend is part of last week's scores, which is still included in your "All Times" score (even though it doesn't show in the "Weekly" totals once the new week has begun). The drop from 511 (your rank at the end of last week) to 50,000 (your standing in the current week thus far) is to be expected if you did a lot through the weekend but then didn't drive, report, or edit much on Monday (when the new Waze week begins).

Also, the distance between your current rank and the next rank is calculated based on the "All Times" scores for Wazers in your area rather than the current week's scores -- so while you might not see it, you're probably not really much further from your sword rank than you were before the weekly scoreboard reset.