If you try this,
Go into the recovery menu (Hold R when you turn your psp on) and find the option to boot with no UMD in drive and it should work, if not try setting the kernel to 1.5.
If all else fails put on 3.03oe-c or 3.40oe-a
iv got 3.03oe-c and its perfect, stable and very customisable, never had any need to to get the newer firmwares
im no expert but hope it helps
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