Douay Confraternity, 1961 vs. KJV 1989
1 Cor 10:16 - Eucharistic participation in the Body and Blood of Christ.
Catholics and a couple Protestant religions believe in the true presence in the Eucharist.
Most Protestant religions do not.
The OT law very clearly prohibits the eating of blood because the life is in the blood.
Jesus could NOT have drank of the cup of the new covenant if it had indeed turned into His blood because He then would have not been sinless, the perfect sacrifice.
Nor could He have remained guiltless if He had changed the wine into blood and demanded that the disciples drink it.
Peter himself in Acts said that he had never eaten anything unclean. That would include the Passover meal where Jesus instituted communion. If he had thought that cup contained blood, he would have not drank it as an observant Jew celebrating the passover.
Nor is God going to command anyone to break a Law He Himself established.
The cup is wine and the bread is wheat a symbolic representation of His body and blood.