Yes, as long as you meet the profit target and follow all the rules, you are welcome to proceed to the next step in as little as 5 days for each Phase.

Meaning you only need to take a minimum of five individual and separate trades per trading cycle. For example, if your trading cycle starts on January 1st and ends on January 31st, you must enter a new trade on at least five of those days. Your trading days do not need to be consecutive and to make things even easier, there is no maximum number of trades you need to take each month so that you can trade freely.

As the minimum trading days for an Evaluation Challenge are 5 days, you have to maintain those 5 minimum trading days even if you reach the profit target earlier.
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If you can reach the 5% profit target in your Phase 2 account within 5 days by complying with all the rules, then you will be eligible for the FundedNext account.