diff --git a/charts/argo-cd/Chart.yaml b/charts/argo-cd/Chart.yaml
index 70bca9bb..196b482c 100644
--- a/charts/argo-cd/Chart.yaml
+++ b/charts/argo-cd/Chart.yaml
@@ -3,7 +3,7 @@ appVersion: v2.11.3
 kubeVersion: ">=1.23.0-0"
 description: A Helm chart for Argo CD, a declarative, GitOps continuous delivery tool for Kubernetes.
 name: argo-cd
-version: 7.2.1
+version: 7.3.0
 home: https://github.com/argoproj/argo-helm
 icon: https://argo-cd.readthedocs.io/en/stable/assets/logo.png
 sources:
@@ -27,4 +27,4 @@ annotations:
     url: https://argoproj.github.io/argo-helm/pgp_keys.asc
   artifacthub.io/changes: |
     - kind: changed
-      description: Default argocd repo-server init container replicas to empty
+      description: make PrometheusRule deployment conditional on CRD existence
diff --git a/charts/argo-cd/templates/argocd-application-controller/prometheusrule.yaml b/charts/argo-cd/templates/argocd-application-controller/prometheusrule.yaml
index 86d66564..20d8eea8 100644
--- a/charts/argo-cd/templates/argocd-application-controller/prometheusrule.yaml
+++ b/charts/argo-cd/templates/argocd-application-controller/prometheusrule.yaml
@@ -1,4 +1,4 @@
-{{- if and .Values.controller.metrics.enabled .Values.controller.metrics.rules.enabled }}
+{{- if and (.Capabilities.APIVersions.Has "monitoring.coreos.com/v1") .Values.controller.metrics.enabled .Values.controller.metrics.rules.enabled }}
 apiVersion: monitoring.coreos.com/v1
 kind: PrometheusRule
 metadata: