US President Joe Biden is contemplating stepping out of the presidential race amid growing pressure from top Democrats. Reports suggest a decision could be made by this weekend.

This development follows concerns from party leaders, including former President Barack Obama and former Speaker Nancy Pelosi, who have amplified calls for Biden’s withdrawal after his poor debate performance against Republican nominee Donald Trump.

Sources told Reuters that Biden is seriously considering his options. "His soul searching is actually happening, I know that for a fact," one source said. Another Democratic Party insider added, "It feels like it's a matter of ... when, not if." Democratic Senator Chris Coons of Delaware, a close Biden ally, mentioned that Biden will be "resting and reflecting" this weekend as he recovers from Covid-19.

The 81-year-old President is currently quarantined at his home in Delaware due to a Covid infection.

Obama has reportedly advised Biden to evaluate the viability of his campaign, although he emphasized that the decision ultimately rests with Biden. Pelosi has similarly expressed doubts about Biden’s chances of defeating Trump, with the Washington Post indicating that she believes Biden may soon be convinced to exit the race.

Several Democratic Senators and Governors have publicly called for Biden to withdraw from the election. A New York Times report, citing individuals close to the President, stated that Biden is beginning to acknowledge the reality that he might not win the November 5 election. The Times quoted a source saying, “reality is setting in,” and suggested that Biden might soon endorse Vice President Kamala Harris as his replacement.

Reports also indicate that Democratic leaders in the House and Senate, Hakeem Jeffries and Chuck Schumer, have warned Biden that his continued candidacy could jeopardize their efforts to reclaim the House.

Senator John Hickenlooper emphasized that Biden is focused on what is best for the country, refraining from directly calling for his withdrawal. "Joe Biden has always put the country first. He's done what's best for America ... I think he'll keep doing so," Hickenlooper stated in a telephone interview.

Despite the mounting pressure, Biden has consistently maintained that he will not step back from the race. He has reiterated his commitment to fighting till the end. Biden campaign co-chair Cedric Richmond dismissed the reports of Biden's potential withdrawal as "absolutely wrong," stating, "The president has said that he is running, and it's the end of the story."

Meanwhile, the Republican presidential nominee is preparing to accept the party’s nomination for the 2024 presidential race. Polls indicate a surge in his popularity following a recent assassination attempt at a rally.