Based on the description of the rock layers and the context of the fossils found within them, the hypothesis that is most strongly supported is:
The older reptile species went extinct because a volcanic eruption caused the environment to change.
This conclusion arises from the presence of the volcanic ash layer, which indicates a significant volcanic event. Such an event could have altered the environment, impacting the habitats and survival of the older reptile species. The existence of a middle layer of volcanic ash suggests a major geological event that could have devastated the ecosystem in which the older species thrived, potentially leading to its extinction.
The other hypotheses, while they are conceivable, are not directly supported by the evidence provided in the geological record.