1. Why coral chips? For it to raise pH ore for the bacteria colony given the porous chips?
Coral chips are basically calcium carbonate. They increase the alkalinity and PH of your water slowly, and is a buffer to keep the PH constant. Bacteria colony basically grow on any surface, so coral chips can also act as their home. If you do not have any buffer, a mature setup will usually become more and more acidic over time. This could be due to lots of factor, such as an expanding bacteria colony etc... One day, the PH will crash, and the water becomes too acidic for the goldfishes, and their slime coat turns white, and they will be fighting for their lives.
2. I noticed that coral chips are also used for aro tanks. It is becos aro needs higher pH? So is this pH ok for Ranchu goldfishes?
Not too sure about aro.. but PH for ranchus are 7.5 and above, as long as you don't have ammonia in the water.
3. Is it becos its outdoor and hence with rain water, its meant to balance the pH?
Mature tank has a tendency to become more and more acidic over time. Could be due to a lot of factors. The coral chips buffer the water to keep the PH constant.
4. Should I even keep Ranchus outdoor

Actually, Ranchus are cold water fishes. If you keep them outdoor, make sure they get some shade. Green water is very good for them.
Thanks in advance!
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