The 29-year-old got off the canvas in the first round to push Limond all the way in a pulsating encounter that Prince believes has announced his arrival as a domestic force.
With Limond now eyeing a possible European title shot, the Commonwealth belt could fall vacant again – and if that happens, Prince has pleaded with promoter Tommy Gilmour to get him another crack at title.
He said: "I believe I showed on Friday night that I belong at title level. The early knock down was the worst possible start, but I showed I had it all in terms of conditioning heart and determination.
"Now I have had a taste for championship boxing I want more and hopefully Tommy Gilmour will be able to keep me in the picture at that level. I don't know what is going to happen with Willie, but if the Commonwealth title falls vacant then I'd love a crack at it. If that was against Lee McAllister, I wouldn't have a problem."
Prince added: "I felt that my workrate had me level going into the last and unfortunately for me Willie won it and I lost. But that was my first 12-round fight compared to Willie, who has been boxing at that level for years. Now I want to stay at that level."
Gilmour has no doubt that Prince's performance will now gain him a Commonwealth ranking.
He said: "If Mitch had won the last round, it would have been a majority draw and he showed enormous character. Mitch will gain inclusion in the Commonwealth rankings and this performance has provided him with the platform he needs. He has opened so many doors for himself."
Meanwhile, Gilmour also revealed that following Friday's domestic fight of the year Limond has been voted the St Andrew's Sporting Club Wilson Digital Boxer of the Year.
Limond was presented with his award prior to last night's St Andrew's Sporting Club show.