Answer
$\therefore$ There will be no rise in the water level in the glass.
Work Step by Step
According to Archimedes’ Principle, any floating object will displace an amount of liquid equal to the volume of the object.
Initially, when the ice was floating it means that it has displaced enough water so that water will support its weight.
When the ice melts the volume of ice becomes equal to the volume it has displaced of water.
Therefore, there will be no rise in the water level in the glass.