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Is there any way we can use the same XML in 7.2 also. Thanks in advance.

Unfortunately, that option is not available out of box.

Technically, Liferay still has code that can read in the XML, which lives inside of the upgrade process code in order to convert from XML to JSON during the upgrade (see UpgradeDynamicDataMapping for the code), but none of this code is accessible outside of the upgrade process.

You could try to uprade your database or if you have problems with that, export the structures/templates into a fresh installation and just upgrade that one. I did a few upgrades in the last couple of years and upgrading  the database works quite quell.
If you don't want to keep the content, just continue to use the structure/template, you could also recreate the structures manually.  Ok, if you have 50 structures, than it is a bit of work, but if it is just a couple,  it shouldn't be a big deal.
Btw.: If you have content and want to keep it, you need to upgrade anyway. The journalarticle xml has changed too and it needs to be transformed too during the upgrade process.

Thank you Christoph for the reply. I have few structures so let me recreate manually.