Ranked choice is more plausible than removing the EC. Ranked choice already exists in some places and the Dems have a proposal (but are lacking the votes) to implement it for Congress.

Removing the EC would require a constitutional amendment so 3/4 for the House and Senate and ratified by 3/4 of the states. Or maybe it's 2/3 for some of those, but either way it needs bipartisan support and why would the GOP remove a system that got their guy elected twice this century?

There is some kind of interstate compact thing to get around it, but making a huge change to elections via sneaky shenanigans won't go over well at a time when a lot of doubts about election integrity have been widely promoted. Wrongly promoted, but still, doing sneaky things about elections is a real no-go right now.