He is in love with a girl, but she obviously does not love him back and/or is taken. He can tell that she doesn't love him, but he has fallen too deep for her. He now realizes that he has to move on with his life, and is asking her to release the hold that she possesses over him. He is basically saying that he loves her, but he will survive if she doesn't love him back, but he just really needs to move on.