Le Quang Liem fell 10 places to 14 after losing to Indian player Sandipan Chanda in the final round of the Tradewise Gibraltar Chess masters event on Thursday.
After five consecutive wins in the first five rounds, the 8th-seeded Liem, 39th in the world with an elo rating of 2705, found the going difficult and had three draws and two losses in the final five rounds.
Being unable to finish among the top 10 players at the event was a disappointment for Liem but he added 4.3 points to his current elo rating to stay among the world's top grandmasters with elo ratings of more than 2700.
Meanwhile, the win over Liem put Chanda among the four players on par with defending champ Nigel Short of England, Vitiugov Nikita of Russia and French contestant Vachier-Lagrave Maxime, all of whom had eight points.
In the blitz chess matches played to decide the final winner, V. Nikita beat Chanda and Nigel Short defeated Vachier-Lagrave Maxime. Nikita went on to dethrone Nigel Short and won the title.