This is not the most known volcano in Iceland, it also has not erupted in the last 10.000 years at least. Normally this volcano does not have any earthquakes and it remains really quiet. Last major earthquake activity was in the year 1996 in relation to the activity in Bárðarbunga volcano and in Grímsfjall volcano that year. This volcano is named Tungnafellsjökull. It is a small volcano compared to other volcanoes in the area. During the past few days there have been several interesting earthquakes in Tungnafellsjökull volcano. They are small, around ML1.6 the largest ones. But they do have the depth of 10 to 12 km. That is what makes this earthquake activity interesting. Since this suggest that magma might be pushing into the volcano. However at this point in time, there is nothing to suggest an eruption is even close to start there. But with all long dormant volcanoes, nobody never knows what can happen next in them.
Following the later earthquake today. This activity started on Skrokkalda SIL station. But this might be due to activity in Hamarinn volcano (Loki-Fögrufjöll at GVP). Not Tungnafellsjökull volcano.
The odd tremor activity on Skrokkalda SIL station. I do not yet have any explanation for this activity. Note that Skrokkalda SIL station is on top of a volcano (not on GVP list, but geological maps made in Iceland), named Skrokkalda, it also has not erupted in historical times to my knowledge. Copyright of this picture belongs to Iceland Meteorological Office.
What happens next in Tungnafellsjökull volcano is impossible to know. But it is most likely going to do what it has been doing for the past 10.000 years. A lot of nothing.