My understanding is that a high percentage of crushes end by themselves over time and do not have bad effects unless they become a major issue with one's significant other.

Therefore, I think that going with your intuition makes sense as a first thing to try.

In addition, you could decide to be in contact the friend somewhat less. In other words, you wouldn't just stop being in contact with this person, but maybe cut back a little for the time being? It is another option to look at.