What is the meaning of 1 Corinthians 11:25?

* The two F.O.G. Bibles & Commentary below are currently a work in progress.

In the same way, after supper He took the cup, saying, “This cup is the new covenant in My blood; do this, as often as you drink it, in remembrance of Me.”

Berean Standard Bible (BSB)

In the same way he also took the cup, after supper, saying, “This cup is the new covenant in my blood. Do this, as often as you drink, in memory of me.”

World English Bible (WEB)

After the same manner{G5615} also{G2532} he took the cup{G4221}, when{G3326} he had supped{G1172}{(G5658)}, saying{G3004}{(G5723)}, This{G5124} cup{G4221} is{G2076}{(G5748)} the new{G2537} testament{G1242} in{G1722} my{G1699} blood{G129}: this{G5124} do ye{G4160}{(G5720)}, as oft as{G3740}{G302} ye drink{G4095}{(G5725)} it, in{G1519} remembrance{G364} of me{G1699}.

Strong's King James

(25) Likewise the cup after dining, said, "This cup is the new covenant in My blood, do this as often if drinking in remembrance of Me."

The F.O.G*

[25] After supper, He took the cup with the same gratitude, saying, "This cup represents the new covenant sealed with My blood. Whenever you drink it, remember Me and the price of your freedom."

The F.O.G Paraphrase

In like manner also the cup after the supping, saying, ‘This cup is the new covenant in my blood; this do ye, as often as ye may drink it—to the remembrance of me;’

Young's Literal Translation