Yes, absolutely. Especially if we are talking about third-party metrics like Ahrefs DR or Moz DA.
Those scores often drop simply because third-party crawlers lost track of old links or low-tier directories purged their databases, whereas Google had likely stopped giving those links credit long ago.
On the algorithmic side, pages also benefit from ranking inertia. If a specific URL has high topical relevance, strong internal links, and solid user engagement signals (good CTR and dwell time), it can easily hold top positions for months after losing backlinks. The drop usually only catches up when a core update recalculates the link graph or an active competitor pushes past you.