I'd like to verify a good rule of thumb for measuring ripple voltage and current.

When taking my measurements, I make sure to set the measurement to AC coupling peak to peak measurements for voltage at about 5-10mV/Div.

For current I do the same with 10mA/Div

I also make sure to use a grounding probe (voltage measurements) with shortest run to remove effects of inductance.

Any advice?

 

What kind of circuit? Your numbers do not resemble a power supply. Your meter is not named. Your frequency is not named.

 

That's pretty much it - I try to use a 1x probe... I've found that my noise floor is higher with a 10x probe. Most 10x probes are also only good down to about 20mV resolution. 1x probes can have reduced bandwidth (usually about 6MHz). 50ohm coax cable can be awesome for this sort of thing (high bandwidth and super low noise floor), but it needs to be properly terminated with a 50 ohm terminator on the scope (if it doesn't already have 50 ohm termination).