Quoting from Wikipedia:
On the x86 architecture, most compilers implement long double as the 80-bit extended precision type supported by that hardware (sometimes stored as 12 or 16 bytes to maintain data structure .
and
Compilers may also use long double for a 128-bit quadruple precision format, which is currently implemented in software.
In other words, yes, a long double may be able to store a larger range of values than a double. But it’s completely up to the compiler.