Natively, yes. Anything higher is technically an overclock, but higher speeds shouldn't be a problem with 'normal' configurations (2x8, 2x16GB, etc). Trying to run 4x16GB @ say 3600MHz might be a little more difficult.
And, note that all Z390 boards max out at 4 DIMM slots, and unregistered 32GB DIMMs don't exist AFAIK. So while the CPU can 'support' 128GB in theory, it's "real world" max is more likely 64GB, unless I've missed the launch of 32GB DIMMs.