Friends close to the pair claim that the couple are ‘taking a breather’ from the relationship.
The split comes just a month after Cressida attended her first royal engagement with Prince Harry.
A US magazine’s claims that the split occurred when Cressida became too ‘needy,’ but insiders say that this is not the case.
A source told the Mail Online that, instead, the split was very much an ‘amicable’ one.
They revealed: ‘Unfortunately it is true, they have split up. But this suggestion that the prince supposedly “dumped” Cressida because she was “too needy” is so wide of the mark.’
Cressida recently graduated from the Laban School of Dance and is currently working for a marketing firm in SoHo.
Friends say that Cressida wants to focus on her career rather than her relationship with Harry.
‘Cressida has decided she wants to focus on her career and Harry is really keen that she is allowed to get on with her life,’ the friend said.
‘He is furious at this suggestion that the split was in any way because she was relying too much on him. Cressida is one of the most independent people he knows.’
Prince Harry and Cressida have yet to confirm the split themselves.