Today (12-October-2022) at 14:18 UTC an earthquake with magnitude of Mw3,5 took place in Krýsuvík-Trölladyngja volcano. This earthquake was followed by few smaller aftershocks. This earthquake seems to be happening because of a inflation that is taking place in Fagradalsfjall volcano and this strongly suggests that inflation in Fagradalsfjall volcano is slowly reaching critical levels. There is no eruption expected from Krýsuvík-Trölladyngja volcano as is.
This earthquake activity suggests that more stronger earthquake activity is possibly on the way. When it might start is difficult to know for sure. This has been the pattern in recent months. Earthquake activity starts to appears like this and then one day a major earthquake swarm starts. What happens now is a wait and see as before.