As an iOS Developer, I often have trouble updating to the latest version of Xcode since my 128GB MacBook Air keeps filling up.
Common culprits include ~/Library/Developer/Xcode/DerivedData and ~/Library/Developer/Xcode/iOS DeviceSupport.
By clearing out those two folders, I’m able to free up 11GB at this time of writing. For more information on what these folders contain, this [LINK REMOVED – see below] was helpful.
May 2021 Edit: This post previously linked to http://ajithrnayak.com/post/95441624221/xcode-users-can-free-up-space-on-your-mac. The link has been removed since the link is now broken.