diff --git a/rpcs3/Emu/Cell/SPUThread.cpp b/rpcs3/Emu/Cell/SPUThread.cpp
index 935262ee22..47adddd5f9 100644
--- a/rpcs3/Emu/Cell/SPUThread.cpp
+++ b/rpcs3/Emu/Cell/SPUThread.cpp
@@ -2168,28 +2168,28 @@ void spu_thread::do_dma_transfer(spu_thread* _this, const spu_mfc_cmd& args, u8*
 		{
 		case 1:
 		{
-			vm::range_lock<true, 1>(range_lock, eal, 1);
+			vm::range_lock<1>(range_lock, eal, 1);
 			*reinterpret_cast<u8*>(dst) = *reinterpret_cast<const u8*>(src);
 			range_lock->release(0);
 			break;
 		}
 		case 2:
 		{
-			vm::range_lock<true, 2>(range_lock, eal, 2);
+			vm::range_lock<2>(range_lock, eal, 2);
 			*reinterpret_cast<u16*>(dst) = *reinterpret_cast<const u16*>(src);
 			range_lock->release(0);
 			break;
 		}
 		case 4:
 		{
-			vm::range_lock<true, 4>(range_lock, eal, 4);
+			vm::range_lock<4>(range_lock, eal, 4);
 			*reinterpret_cast<u32*>(dst) = *reinterpret_cast<const u32*>(src);
 			range_lock->release(0);
 			break;
 		}
 		case 8:
 		{
-			vm::range_lock<true, 8>(range_lock, eal, 8);
+			vm::range_lock<8>(range_lock, eal, 8);
 			*reinterpret_cast<u64*>(dst) = *reinterpret_cast<const u64*>(src);
 			range_lock->release(0);
 			break;
@@ -3223,9 +3223,73 @@ bool spu_thread::reservation_check(u32 addr, const decltype(rdata)& data)
 	}
 
 	// Ensure data is allocated (HACK: would raise LR event if not)
-	vm::range_lock<false>(range_lock, addr, 128);
+	// Set range_lock first optimistically
+	range_lock->store(u64{128} << 32 | addr);
 
-	const bool res = *range_lock && cmp_rdata(data, vm::_ref<decltype(rdata)>(addr));
+	u64 lock_val = vm::g_range_lock;
+	u64 old_lock = 0;
+
+	while (lock_val != old_lock)
+	{
+		// Since we want to read data, let's check readability first
+		if (!(lock_val & vm::range_readable))
+		{
+			// Only one abnormal operation is "unreadable"
+			if ((lock_val >> vm::range_pos) == (vm::range_locked >> vm::range_pos))
+			{
+				// All page flags are untouched and can be read safely
+				if (!vm::check_addr(addr, 128))
+				{
+					// Assume our memory is being (de)allocated
+					range_lock->release(0);
+					break;
+				}
+
+				// g_shmem values are unchanged too
+				const u64 is_shmem = vm::g_shmem[addr >> 16];
+
+				const u64 test_addr = is_shmem ? (is_shmem | static_cast<u16>(addr)) / 128 : u64{addr} / 128;
+				const u64 lock_addr = lock_val / 128;
+
+				if (test_addr == lock_addr)
+				{
+					// Our reservation is locked
+					range_lock->release(0);
+					break;
+				}
+
+				break;
+			}
+		}
+
+		// Fallback to normal range check
+		const u64 lock_addr = static_cast<u32>(lock_val);
+		const u32 lock_size = static_cast<u32>(lock_val << 3 >> 35);
+
+		if (lock_addr + lock_size <= addr || lock_addr >= addr + 128)
+		{
+			// We are outside locked range, so page flags are unaffected
+			if (!vm::check_addr(addr, 128))
+			{
+				range_lock->release(0);
+				break;
+			}
+		}
+		else if (!(lock_val & vm::range_readable))
+		{
+			range_lock->release(0);
+			break;
+		}
+
+		old_lock = std::exchange(lock_val, vm::g_range_lock);
+	}
+
+	if (!range_lock->load()) [[unlikely]]
+	{
+		return true;
+	}
+
+	const bool res = cmp_rdata(data, vm::_ref<decltype(rdata)>(addr));
 
 	range_lock->release(0);
 	return !res;
diff --git a/rpcs3/Emu/Memory/vm_locking.h b/rpcs3/Emu/Memory/vm_locking.h
index ca52734b26..fce204fcc4 100644
--- a/rpcs3/Emu/Memory/vm_locking.h
+++ b/rpcs3/Emu/Memory/vm_locking.h
@@ -42,7 +42,7 @@ namespace vm
 	void range_lock_internal(atomic_t<u64, 64>* range_lock, u32 begin, u32 size);
 
 	// Lock memory range
-	template <bool TouchMem = true, uint Size = 0>
+	template <uint Size = 0>
 	FORCE_INLINE void range_lock(atomic_t<u64, 64>* range_lock, u32 begin, u32 _size)
 	{
 		const u32 size = Size ? Size : _size;
@@ -63,7 +63,7 @@ namespace vm
 		{
 			lock_size = 128;
 
-			if (TouchMem && is_share) [[unlikely]]
+			if (is_share) [[unlikely]]
 			{
 				addr = static_cast<u16>(begin) | is_share;
 				lock_addr = lock_val;
@@ -80,30 +80,10 @@ namespace vm
 
 			if (!new_lock_val || new_lock_val == lock_val) [[likely]]
 			{
-				if constexpr (!TouchMem)
-				{
-					if (!vm::check_addr(begin, size, vm::page_writable))
-					{
-						range_lock->release(0);
-					}
-				}
-
 				return;
 			}
 
 			range_lock->release(0);
-
-			if constexpr (!TouchMem)
-			{
-				return;
-			}
-		}
-
-		if constexpr (!TouchMem)
-		{
-			// Give up
-			range_lock->release(0);
-			return;
 		}
 
 		// Fallback to slow path