The statement is - True.
Mount Elbert has an elevation of 4,401 meters (which is almost three miles), and it has a prominence of 2,772 meters. It is the highest summit of the Rocky Mountains of North America. Mount Elbert also represents the highest point of the state of Colorado, and it is also the highest point of the Mississippi River drainage basin which covers 41% of the USA's territory. More specifically this peak is in the Rocky Mountains Range, Sawatch Range, Southern Rocky Mountains Range.