Rac means reservation against Cancellation. You are in 27 RAC. If some one cancels the ticket you will get number decreasing towards ticket confirmation. Or you will get your berth / seats and coach number once chart is prepared.
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The RAC ticket is getting confirmed if the customers who have RAC 1–28 ticket their cancel,so in that case your ticket get confirmed and the other way is during the time of chart preparation if there is vacant seats in the train your ticket get chance to be confirmed.
RAC (reservation against cancellation) is usually a confirmed seat without a sleeping berth and till 50 to 60 number should get confirmed 98% in a way. In my example too, mine was RAC2 got confirmed on the day of departure. So possibility is 200% till the number 40 to 50.
With a waitlisted ticket, you will only gain access to the appropriate coach; no seat will be provided. However, RAC tickets come with the assurance of a shared seat. Further, in the event that anyone with a confirmed seat cancels their ticket, the RAC status will be prioritised while allotting those.