To Dangle
To Drip
intransitive verb, ichidan verb
If 垂らす is "to dangle something" then this is to dangle or to drip. You're not doing the dangling, which is rare (れる), because usually it's you who's doing the dangling.
The reading is the same as 垂らす.
フタがちゃんと閉まっていなかったみたいで、横からソースが垂れている。
It seems that the lid wasn't properly closed, so there's sauce leaking from one side.
昨夜ジャグチが壊れて、水がポタポタ垂れる音が気になってほとんど寝られなかった。
Last night the faucet broke, and the sound of dripping water bothered me so much I hardly got any sleep.
ジャズの尻尾は飼い主がいない間ずっと垂れ下がっていたが、次郎の車が聞こえた途端、ぴんとはね上がり、激しく振り始めた。
Although Jazz's tail had been drooping the entire time his owner was out, the moment he heard Jiro's car, it sprang straight up and started wagging furiously.