diff --git a/gradle.properties b/gradle.properties
index 3309b94a481..2530659a5be 100644
--- a/gradle.properties
+++ b/gradle.properties
@@ -17,7 +17,7 @@
 # Rundeck Build Properties
 #####################################################################
 group=org.rundeck
-currentVersion = 5.3.0
+currentVersion = 5.4.0
 grailsVersion=6.1.2
 grailsGradlePluginVersion=6.1.2
 springBootVersion=2.7.18
diff --git a/version.properties b/version.properties
index 522c3212811..e501bf3aeb3 100644
--- a/version.properties
+++ b/version.properties
@@ -14,8 +14,8 @@
 # limitations under the License.
 #
 version.buildTime=20210201172508
-version.number=5.3.0
+version.number=5.4.0
 version.release.number=0
 version.tag=SNAPSHOT
-version.date=20240327
-version.version=5.3.0-SNAPSHOT-20240327
+version.date=20240508
+version.version=5.4.0-SNAPSHOT-20240508