In a large bowl, cream together butter and powdered sugar until smooth.
Stir in orange extract until well combined.
In a separate bowl, combine flour and dried cranberries and mix well.
Add flour mixture to butter mixture and mix with a hand mixer or paddle attachment of a stand mixer until dough begins to come together.
Divide dough in half. Dust surface with flour and, with floured hands, roll dough into two cylinders, about 1 ½ -2 inch in diameter.
Cover with plastic wrap and chill for at least 2 hours or overnight. Dough can be made up and chilled to 3 days in advance.
Preheat oven to 375°F. Line a baking sheet with parchment paper or a silicone baking liner.
Unwrap chilled dough logs. Using a serrated knife, cut log into ½-inch slices.
Place cookie slices on an ungreased baking sheet and bake for 12-13 minutes or until cookies are just beginning to lightly brown around the edges.
Allow to cool on baking sheet for 5 minutes, then remove to a wire rack to finish cooling.
Melt chopped white chocolate in a bowl in the microwave in 15 second increments.
Dip half of each cookie into melted white chocolate and place on parchment paper to set.