Sudden burning/ sharp sensation in ribs on right side. Radiates through to back. Comes and goes. Very sensitive when the area is touched?

Hard to say. If the skin is sensitive, shingles comes to mind. Is there a rash forming in that area? If not, has there been any recent trauma to the area? Are you short of breath? Are you having any palpitations? You may need an actual evaluation by your doctor to really see what's going on here.