Today (31-July-2018) an earthquake swarm started in Krýsuvík volcano. Currently this earthquake swarm is ongoing. Largest earthquake so far has the magnitude of 3,1. Other earthquakes are smaller in magnitude.
Earthquake swarm in Krýsuvík volcano (green star). Copyright of this image belongs to Icelandic Met Office.
This earthquake swarm looks tectonic in nature and nothing suggests that magma has anything to do with it. It is impossible to know how this earthquake swarm develops as the time passes.