The answer depends on what kind of Xeon you have.
With a single-processor Xeon in your 2012 Mac Pro, you are limited to 56GB of RAM. If you install a dual-capable processor in a single-processor 2012 Mac Pro, you can increase the RAM capacity of the system from 56GB to 64GB.
There are some notes about this in the first post of the CPU Compatibility List thread here:
Bokkow and I have created a Mac Pro CPU compatibility list. The intent is to cover all relevant and compatible CPU upgrades for all Mac Pros. These are asked about over and over and over again, so I thought it would be nice to have it all in one place. Constructive criticism, corrections to...
forums.macrumors.com
One question to consider: Do you actually need 56GB of RAM for your application? If you do not need this much RAM, you are better off installing 3 x 16GB DIMMs in your system because the 2012 Mac Pro uses DDR3 RAM and operates optimally with a set of 3 matched DIMMs.
If you install 4 DIMMs in your 2012 Mac Pro, you will see a very small (but measurable) performance penalty of about 3–5%. So, with your system, using 4 DIMMs totaling more than 48GB of RAM might actually make it slower.
If you often use more than 48GB of RAM, then it makes sense to install 56GB because swapping to disk when you exhaust your RAM would be a very large performance penalty. Otherwise, use 3 x 16GB DIMMs.
Also, some models of Xeon support 1333MHz RAM. Check the linked post above and check the model number of your Xeon to find out if you can take advantage of 1333MHz DIMMs. This would also yield a big performance improvement.