Ylgr is probably Loki

Yeah probably, I just rewatched to confirm it, Fjorm only names alfonse and sharena, and then ylgr calls the summoner by name near the end.

Kinda funny, earlier there were theories that current fjorm is actually loki because an ice princess shouldn't get sick from performing the ice ritual, now her younger sister is loki too. Next stop, Gunnthra isn't dead, he just fake killed loki to freak us out.

Gunnthra knew our name as well and spoke to us in a vision. this means that either foresight and telepathy run in the family, or Loki was Gunnthra and then Ylgr...

-R