What do you do in this situation?

What’s the most widely accepted and used method for this:

When you and someone you know are walking towards each other, and you make eye contact. You’re too far away for them to hear your voice, but if you just look at them and smile as you approach for 5-10+ seconds it’s very uncomfortable. And if you try speaking loudly to compensate for the distance between you, it’s even more awkward. Do you do the “stare at the ground/phone” until you reach each other method? Happens a lot on bruinwalk and need to know the proper strat