Open Xcode 6

Open Preferences

Click theLocationstab

Change theCommand Line Toolsversion toXcode 6.0

Uninstallcocoapods
a.$ sudo gem uninstall cocoapods

Installxcodeproj
a.$ sudo gem install xcodeproj

Installcocoapods
a.$ sudo gem install cocoapods

Runpod --versionto verify that it worked