Clarify your question: School Rank or Student Rank within the School?
I'll answer both in any case
School Rank: Not at all if you are ranked first. State Ranks are judged by Internal Mark + External Mark / 2
Student Rank within the School: Yes your internal rank (assumed not first) will hinder your ability to top the state. Not impossible, but you are significantly disadvantaged as you do not receive the top internal mark