Estimote app is not considering the transmitting distance that we reduce/increase in Estimote app and in cloud. And while using [onBeaconDiscovered] method in RangingListener, i found same behavior. (When we set the maximum distance as 4M, Estimote app and RangingListener can find the beacon even when the mobile device is 20M away from beacon).
But, it's different while using [onEnteredRegion and onExitedRegion] methods in MonitoringListener. This works as per the changes we do in transmitting distance and broadcasting power in cloud.