Murphy has backed the midfielder for another move in future, potentially to the Championship.
The veteran midfielder joined Tony Mowbray’s side on a short term loan last Friday, making his debut in the 0-0 draw with Rochdale on Tuesday evening.
He has opted for the loan spell as he seeks game time, with that unlikely to come at Villa Park after a number of new signings arrived over the summer.
It was a surprise move from Cole, and Murphy says he deserves praise as it takes a lot of courage to move down two divisions for football.
“I think in a world full of cynicism to footballers, he deserves great credit. What it shows is that he’s got true appetite and just wants to play,” he told talkSPORT.
“He’s had a difficult few years after being such a wonderful talent. The injuries haven’t helped. To take the plunge and drop down to that level shows a lot of courage and a great appetite for the game. I think it’s rare that players do this.”
The former midfielder has also backed Cole for another switch in the future, despite his age.
At 33-years-old, he is unlikely to be the subject of a big-money move, as he has been in the past, while his wages could also prove a stumbling block to many clubs.
His move to Coventry, though, suggests that money is not his main concern, and Murphy says he could still have two or three years at a decent level, potentially in the Championship.
“I think what he’s done is he’s decided to go down there and be the star of the show and then take another step forward,” he added.
“Maybe he can come back up and play somewhere again. He could still have two or three years at a decent level, even if it’s in the Championship.”