5.2 should be fine.
PHP 5.0.x was buggy, so we explicitly exclude that. The message I think you are seeing is
"PHP 5.0.x has a number of known problems, please upgrade to 5.1.x or downgrade to 4.3.x or 4.4.x"
Which version of Moodle are you trying to install?
Installing and upgrading help
Wrong PHP version
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