The risk of asteroid 2024 YR4 hitting Earth seems to be creeping up as astronomers gather more data, but does that mean we should be scrambling to prepare for an impact in 2032?

The threat of Asteroid 2024 YR4 has not gone away just yet. The near-Earth object was discovered in December and calculations of its orbit showed something concerning: there was a remote possibility that it was going to hit our planet.

The probability of a 2032 collision with the 50-meter asteroid has risen to 1.9%. However, ongoing calculations in the coming days and weeks may cause this estimate to fluctuate

The measure could be taken to divert a space rock being monitored by the European Space Agency, which is expected to cross the planet's orbit in December 2032.

According to the BBC, the asteroid's size means it would have the same power as a nuclear bomb if it were to hit the Earth.

Experts are tracking asteroid 2024 YR4, which has a 1.2% chance of impacting Earth in 2032. Observations continue to refine its path.

An asteroid set to swing by Earth in 2032 has small chance of smashing into our planet, but experts aren't panicking — yet.

Astronomers believe that YR4 may approach Earth within 66,000 miles. However, given the unpredictability of orbits, NASA says it could be a direct hit. According to the network's estimates, impact locations include the eastern Pacific, northern South America, Africa, and south Asia, reports Metro .

"An asteroid this size impacts Earth on average every few thousand years and could cause severe damage to a local region," the European Space Agency said.