Dragon's Blood comes in handy when it comes to cleansing a space. If the previous occupant of the location left behind some dodgy energy, burn Dragon's Blood incense, or sprinkle the powder around the perimeter to banish away negativity. Blend it with dried sage or sweetgrass for extra metaphysical protection.
As you can probably guess, Dragon's Blood is associated with the element of fire, so you can use it on your altar to represent fire in the absence of a candle, or use it in rituals that involve flames, the sun, heat, or power.
In some traditions of folk magic, the resin is blended into an oil. Use Dragon's Blood oil to anoint candles or to dab on your wrists to enhance your personal power. Create a money drawing oil by adding bits of lodestone into Dragon's Blood oil, or add cinnamon and pieces of rose quartz to create a love oil. For purification magic, add a few pieces of hematite or onyx, along with rosemary or sage, into your oil, and use it to anoint your doors and windows; this will help keep negative energy outside of your home.