Is it possible for one to get to high elo (D3 or above) with 110 ping?

Im asking this because my ping used to be around 70 and it has recently spiked up to a steady 110-112, never going higher or lower. Would this hinder my ability to climb the ranked ladder? Im concerned mainly because it might be a lot harder to last hit with this kind of ping. (I havent played ranked since my ping went up solely because of the fear that I have of not being able to preform as well with a lower ping.)
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