Apps · Choosing which apps to move
Can I move Xcode to an external drive with Storage Studio?
Short answer: Generally not: Xcode is signed by Apple and updated in place, so it's marked Blocked. Its simulators, build data and caches are usually the bigger space win.
Generally not — Xcode is signed by Apple and updated in place, so Storage Studio marks it Blocked, like Apple's other apps.
The bigger win is usually Xcode's data rather than the app: simulators, build products and caches can take far more space. See freeing space for developer caches, which covers what's safe to clear.