Should I wait for him or just give up?

My boyfriend broke up with me about a week ago saying that he has a lot going on in his life and isn't ready for a relationship. He said he also needs to work on himself and needs to learn how to love and respect himself first. He's also not over his ex girlfriend which I don't understand. She cheated on him, but yet he can't get over her. He said he wants me to wait for him, and vice versa, and that he wants to be friends with me and get to know me better. He said he still cares about me, and was crying horribly when we broke up. He can't be with ANYONE right now. He told me not to be a stranger and text or call him anytime. I know he's not lying about anything Because our mutual friends said he told them the same thing when we broke up, and that he didn't find anyone else. However, the past couple days that I've texted him he's just ignored me. He doesn't really want to talk, and says he needs time.

Should I wait for him or just move on? People tell me just to give him time and things will die down, but I feel like he's not even making an effort.
Should I wait for him or just give up?
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