This functionality currently exists in the API Endpoint Monitor through the use of Variables.
You can use variables to extract values from JSON and XML responses and insert these values in subsequent requests. In this manner, you can pass session tokens, item IDs, and similar data between the requests. Variables can be used in the request URL, headers, body, and in bearer tokens.
You can find the complete explanation below:
https://support.smartbear.com/alertsite/docs/monitors/api/endpoint/variables.html
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