Can a dislocated rib cause a burning sensation in the breast ?

Yes: See your doctor or if you can get to an osteopathic physician (do) that does manipulation you could get that rib relocated.

It could, but...: True rib dislocations are caused by high energy trauma, not bad posture, muscle spasm, or ctd. There are some health professionals that reportedly manipulate dislocated ribs back in place, however, anatomically the joint bet. Rib and vertebrae is so rigid that the dislocation/relocation process is a trauma/surgery relationship. See your ob/gyn or pcp for an exam and to discuss other causes ; tx.