Complicated Situation — Let Go Completely?

So I was dating this guy for around 4 months. At the start, everything was really great, easygoing, and fun. Things between us were only semi-serious. We were only seeing/talking to each other, but we weren’t officially boyfriend/girlfriend. I also must note he has dealt with depression for a really long time and was very open about it from the beginning. He has received help in the past, but no longer sees a therapist as he lacks the money.

Things started to get kind of complicated in his life. A series of events lead to him losing his job, having no car, and having to move in with his best friend and his best friend’s girlfriend (who is my best friend).

About a week ago, we discussed where things between us were heading. He admitted to me that he just doesn’t feel like he can be in a relationship with me right now because of everything going on in his life. He also admitted he has felt very depressed for the past month or so which is why he had been kind of distant lately. He said he still has strong feelings for me, but until he gets his life together he doesn’t feel like he has anything to offer me. He said he can’t give me what I deserve right now and he feels bad. And he also knows I want a relationship right now, and it isn’t fair to keep me there when he’s not mentally ready because of his depression and stress with everything that has recently happened as well as what it all means for his future. But that he would really like to try again when he feels he’s gotten his life more together. He seemed really genuine during the entire discussion. And given his situation, I do believe his reasons were legitimate and that in an odd way he was being thoughtful in ending things.

I didn’t want to fight him on the matter or make him feel guilty about his decision. I just kind of let it happen. Which is honestly the best choice for the both of us because things between us were starting to become a little too complicated. I told him I was sorry about his depression and that I wished things could’ve worked differently between us but I agreed that if things are ever going to work with us, it can’t be right now because he was right I wanted more. We both expressed some disappointment about how things played out but left things on good terms.

Since we are now in the same group of friends and he now lives with my best friend, I have had to see/talk to him since all of this has happened. Both times we’ve both been friendly and casual. But deep down it kind of hurts to see him. He seems just fine though. We’ve stopped contacting each other. I have unfollowed (not blocked or unfriended) him on all social media for now just because it’s easier for myself because he’s very active on social media.

I know there’s nothing I can do but see how things play out. It just hurts because I really wanted things to work out. It honestly kind of hurts more than I thought it would. I do appreciate that he was so open and honest with me though. I do think there could be something in the future, but I’m trying not to focus on that because I don’t want to be waiting around or relying on that to get me through this. I’ve done really well at focusing on myself the past week or so, but at least once or twice a day I’ll catch my mind wandering and I’m thinking about the situation again. I feel like completely letting go is my best bet right now, but is that the right choice? This guy hasn’t really done me wrong in any way. But given the fact that we can’t be together right now, I feel like my only choice is to completely let go.

Any other advice, tips, words of encouragement?