This is a huge issue in Windows to install ipython. I would recommend Windows users to never go the pip or easy_install way to install it. I faced a lot of issues like above. I read that it still has dependencies issues on github i.e. via pip.
I got it installed finally by this:
Download and install Anaconda
Update IPython to the current version by:
Go to Anaconda directory or look for anaconda cmd & do the following:
conda update conda
conda update ipython