I could see it happening the way you described if the 232 had a signature that no other top tier approached, but there are so many other top tier IEMs that compete with it, so potential buyer have tons of other options. And I haven't seen the TF10's price increase although UE quit making it. Anything is possible, but I somehow doubt it since this IEM isn't a great demand now and the company seems to be folding its earphone business for lack of profitability.
The thing with the TF10 was that there was a surplus of supply, it was overstocked just about everywhere :p Furthermore, there was no demand for the TF10 really (being such an old product) The 232 may not be like that. If the stock is already not too high, and demand goes up, you'll expect the price to go up. Then again, if demand doesn't go up, the price will drop.