diff --git a/panel/config.py b/panel/config.py
index 9f75a2e556..f0c6f895f1 100644
--- a/panel/config.py
+++ b/panel/config.py
@@ -21,7 +21,7 @@
 from bokeh.document import Document
 from bokeh.model import Model
 from bokeh.settings import settings as bk_settings
-from param.depends import (
+from param.display import (
     register_display_accessor, unregister_display_accessor,
 )
 from pyviz_comms import (
diff --git a/panel/pane/base.py b/panel/pane/base.py
index d99b9aa848..fbd42284d6 100644
--- a/panel/pane/base.py
+++ b/panel/pane/base.py
@@ -549,9 +549,7 @@ class ReplacementPane(PaneBase):
 
     _pane = param.ClassSelector(class_=Viewable, allow_refs=False)
 
-    _ignored_refs: ClassVar[Tuple[str]] = ['object', '_pane']
-
-    _linked_properties: ClassVar[Tuple[str]] = ()
+    _linked_properties: ClassVar[Tuple[str,...]] = ()
 
     _rename: ClassVar[Mapping[str, str | None]] = {'_pane': None, 'inplace': None}
 
diff --git a/panel/pane/holoviews.py b/panel/pane/holoviews.py
index 88f02f431e..d7836bcf32 100644
--- a/panel/pane/holoviews.py
+++ b/panel/pane/holoviews.py
@@ -9,7 +9,7 @@
 from collections import OrderedDict, defaultdict
 from functools import partial
 from typing import (
-    TYPE_CHECKING, Any, ClassVar, Mapping, Optional, Tuple, Type,
+    TYPE_CHECKING, Any, ClassVar, Mapping, Optional, Type,
 )
 
 import param
@@ -685,8 +685,6 @@ class Interactive(PaneBase):
 
     priority: ClassVar[float | bool | None] = None
 
-    _ignored_refs: ClassVar[Tuple[str]] = ['object']
-
     def __init__(self, object=None, **params):
         super().__init__(object, **params)
         self._update_layout()
diff --git a/panel/pane/ipywidget.py b/panel/pane/ipywidget.py
index 6d5bd563e7..b272a51eca 100644
--- a/panel/pane/ipywidget.py
+++ b/panel/pane/ipywidget.py
@@ -3,7 +3,7 @@
 import os
 
 from typing import (
-    TYPE_CHECKING, Any, ClassVar, List, Optional,
+    TYPE_CHECKING, Any, ClassVar, Optional,
 )
 
 import param
@@ -43,8 +43,6 @@ class IPyWidget(PaneBase):
 
     priority: ClassVar[float | bool | None] = 0.6
 
-    _ignored_refs: ClassVar[List[str]] = ['object']
-
     @classmethod
     def applies(cls, obj: Any) -> float | bool | None:
         return (hasattr(obj, 'traits') and hasattr(obj, 'get_manager_state') and hasattr(obj, 'comm'))
diff --git a/panel/pane/plot.py b/panel/pane/plot.py
index 69294fde09..5594261d3d 100644
--- a/panel/pane/plot.py
+++ b/panel/pane/plot.py
@@ -8,7 +8,7 @@
 from contextlib import contextmanager
 from io import BytesIO
 from typing import (
-    TYPE_CHECKING, Any, ClassVar, Dict, List, Mapping, Optional,
+    TYPE_CHECKING, Any, ClassVar, Dict, Mapping, Optional,
 )
 
 import param
@@ -230,8 +230,6 @@ class Matplotlib(Image, IPyWidget):
         Automatically adjust the figure size to fit the
         subplots and other artist elements.""")
 
-    _ignored_refs: ClassVar[List[str]] = []
-
     _rename: ClassVar[Mapping[str, str | None]] = {
         'object': 'text', 'interactive': None, 'dpi': None,  'tight': None,
         'high_dpi': None, 'format': None, 'encode': None
diff --git a/panel/param.py b/panel/param.py
index 3a76a1a2e4..27dc2dbfb2 100644
--- a/panel/param.py
+++ b/panel/param.py
@@ -1051,9 +1051,6 @@ class ReactiveExpr(PaneBase):
 
     priority: ClassVar[float | bool | None] = 1
 
-    # Parameter values which should not be treated like references
-    _ignored_refs: ClassVar[List[str]] = ['object']
-
     _layouts = {
         'left': (Row, ('start', 'center'), True),
         'right': (Row, ('end', 'center'), False),
diff --git a/panel/pipeline.py b/panel/pipeline.py
index 104709cc23..c5c8964bca 100644
--- a/panel/pipeline.py
+++ b/panel/pipeline.py
@@ -4,7 +4,6 @@
 import traceback as tb
 
 from collections import OrderedDict, defaultdict
-from typing import ClassVar, Tuple
 
 import param
 
@@ -165,8 +164,6 @@ class Pipeline(Viewer):
 
     previous = param.Action(default=lambda x: x.param.trigger('previous'))
 
-    _ignored_refs: ClassVar[Tuple[str]] = ('next_parameter', 'ready_parameter')
-
     def __init__(self, stages=[], graph={}, **params):
         try:
             import holoviews as hv
diff --git a/panel/reactive.py b/panel/reactive.py
index 30309cb323..05a285da27 100644
--- a/panel/reactive.py
+++ b/panel/reactive.py
@@ -527,9 +527,6 @@ class Reactive(Syncable, Viewable):
     the parameters to other objects.
     """
 
-    # Parameter values which should not be treated like references
-    _ignored_refs: ClassVar[List[str]] = []
-
     _rename: ClassVar[Mapping[str, str | None]] = {
         'design': None, 'loading': None
     }
@@ -538,8 +535,8 @@ class Reactive(Syncable, Viewable):
 
     def __init__(self, refs=None, **params):
         for name, pobj in self.param.objects('existing').items():
-            enable_refs = name not in self._ignored_refs
-            pobj.allow_refs = enable_refs
+            if name not in self._param__private.explicit_no_refs:
+                pobj.allow_refs = True
         super().__init__(**params)
 
     #----------------------------------------------------------------
diff --git a/panel/tests/test_expression.py b/panel/tests/test_expression.py
index af783b4e6c..6d3e040bc9 100644
--- a/panel/tests/test_expression.py
+++ b/panel/tests/test_expression.py
@@ -52,18 +52,18 @@ def test_reactive_widget_order():
 
 def test_reactive_dataframe_method_chain(dataframe):
     dfi = rx(dataframe).groupby('str')[['float']].mean().reset_index()
-    pd.testing.assert_frame_equal(dfi.rx.resolve(), dataframe.groupby('str')[['float']].mean().reset_index())
+    pd.testing.assert_frame_equal(dfi.rx.value, dataframe.groupby('str')[['float']].mean().reset_index())
 
 def test_reactive_dataframe_attribute_chain(dataframe):
-    array = rx(dataframe).str.values.rx.resolve()
+    array = rx(dataframe).str.values.rx.value
     np.testing.assert_array_equal(array, dataframe.str.values)
 
 def test_reactive_dataframe_param_value_method_chain(dataframe):
     P = Parameters(string='str')
     dfi = rx(dataframe).groupby(P.param.string)[['float']].mean().reset_index()
-    pd.testing.assert_frame_equal(dfi.rx.resolve(), dataframe.groupby('str')[['float']].mean().reset_index())
+    pd.testing.assert_frame_equal(dfi.rx.value, dataframe.groupby('str')[['float']].mean().reset_index())
     P.string = 'int'
-    pd.testing.assert_frame_equal(dfi.rx.resolve(), dataframe.groupby('int')[['float']].mean().reset_index())
+    pd.testing.assert_frame_equal(dfi.rx.value, dataframe.groupby('int')[['float']].mean().reset_index())
 
 def test_reactive_layout_default_with_widgets():
     w = IntSlider(value=2, start=1, end=5)
diff --git a/panel/widgets/indicators.py b/panel/widgets/indicators.py
index 132d655db1..2680b6a911 100644
--- a/panel/widgets/indicators.py
+++ b/panel/widgets/indicators.py
@@ -1228,8 +1228,6 @@ class Tqdm(Indicator):
     write_to_console = param.Boolean(default=False, doc="""
         Whether or not to also write to the console.""")
 
-    _ignored_refs: ClassVar[List[str]] = ['progress']
-
     _layouts: ClassVar[Dict[Type[Panel], str]] = {Row: 'row', Column: 'column'}
 
     _rename: ClassVar[Mapping[str, str | None]] = {
diff --git a/panel/widgets/misc.py b/panel/widgets/misc.py
index e74763050b..6feb05bcf0 100644
--- a/panel/widgets/misc.py
+++ b/panel/widgets/misc.py
@@ -124,8 +124,6 @@ class FileDownload(IconMixin):
 
     _transfers = param.Integer(default=0)
 
-    _ignored_refs: ClassVar[List[str]] = ['callback']
-
     _mime_types = {
         'application': {
             'pdf': 'pdf', 'zip': 'zip'
diff --git a/setup.py b/setup.py
index faa6063565..5bd48299ac 100644
--- a/setup.py
+++ b/setup.py
@@ -102,7 +102,7 @@ def run(self):
 
 install_requires = [
     'bokeh >=3.1.1,<3.3.0',
-    'param >=2.0.0rc2',
+    'param >=2.0.0rc6',
     'pyviz_comms >=0.7.4',
     'xyzservices >=2021.09.1', # Bokeh dependency, but pyodide 23.0.0 does not always pick it up
     'markdown',
@@ -226,7 +226,7 @@ def run(self):
 # non-python dependencies). Note that setup_requires isn't used
 # because it doesn't work well with pip.
 extras_require['build'] = [
-    'param >=2.0.0rc2',
+    'param >=2.0.0rc6',
     'setuptools >=42',
     'requests',
     'packaging',