In a medium saucepan, combine fresh or frozen cranberries, granulated sugar, orange juice, orange zest, and water. Cook the cranberry mixture over medium-low heat, stirring occasionally for about 10 to 15 minutes. The mixture will bubble, reduce, and thicken slightly.
Remove the saucepan from the heat. Transfer the cranberry mixture to a blender, food processor, or heat-safe container to use an immersion blender to puree the cranberry mixture until smooth. Be careful as the mixture will be hot.
Add egg yolks to a large bowl and whisk until broken up. Very slowly drizzle the hot cranberry mixture into the egg yolks whisking constantly to temper the egg yolks so they do not scramble. Transfer the cranberry mixture back to a saucepan and place over low heat. Cook the mixture for an additional 3 minutes whisking constantly until thickened.
Remove the saucepan from the heat. Add in cold, cubed unsalted butter, one cube at a time, whisking in between each addition.
Once all the butter is added, melted, and well combined into the cranberry curd, transfer the curd to a heat-safe container. Cover the cranberry curd with a lid or plastic wrap and cool to room temperature. Once cooled, chill the curd in the refrigerator for at least two hours before using.