Yes it is possible. Just install it on your SSD as usual.
Then start iStripper, but dont download any shows (you can but, then the shows will be moved, wich costs time).
Then go to the Settings tab an make sure to select the advanced settings.
Scroll down to DATA and press the button "change folder".
Then follow the instructions on the popup window.
There you can select a folder on a different hard drive.
BUT: just a word on performance.
Everyone tells you: "put everything which sould be fast on your SSD." Incorrect. Data on your SSD will be LOADED fast.
Everything which your processer executes must be in your hardware RAM. iStripper is small and will be loaded completely into your memory. So iStripper is loaded fast during startup, but then nothing more. It will stay in memory until you close it (maybe it will stay even if you close it).
So storing iStripper on an SSD means: no performance increase + many reads/writes on your EEPROM (Electrically erasable programmable read only memory).
You don't want that normally, because there are about ten thousand write cycles until a sector dies. You want write cycles to stay as small as possible.