Yep! Although, sharpness is only part of the equation for bouncing. Sometimes, monsters will have extremely tough parts that simply can't be struck even at max sharpness. Some weapons, like the hammer, ignore this. You can also use special moves, like the Charge Blade's charged sword which gives it a similar effect. In the older games, there used to be an armor skill called Mind's Eye, which completely negates all bouncing. Haven't seen it yet in World, but if you avoid the parts that make you bounce you should still be able to slice at a monster's ankles or belly!