Heat oven to 350°F. Line a baking sheet with parchment paper and set aside. Boil ½ cup water and add to a heatproof bowl. Add cranberries and let sit until plump, about 15 minutes. Drain and set aside.

In a stand mixer fitted with the paddle attachment, beat butter, sugar, salt, extracts, and baking powder on medium speed until smooth and creamy, 2 to 3 minutes. Beat in eggs. Reduce mixer speed to low, then add flour, cranberries, and pistachios until a sticky dough forms.

Transfer dough to prepared baking sheet. Divide dough in half, then shape into 2 9-inch loaves. Smooth loaves and sprinkle with sugar, pressing sugar into dough lightly. Bake 25 minutes.

Using a pastry brush dipped in water, brush baked biscotti dough on all sides. Reduce oven temperature to 325°F. Transfer biscotti on parchment paper to a cutting board and let cool 10 minutes.

Using a bread knife, slice loaves crosswise into ½-inch-thick pieces. Place a cooling rack on top of a baking sheet and arrange biscotti on rack. Bake biscotti until golden and dry, about 25 to 30 minutes. Let cool completely, about 1 hour, then store in an airtight container at room temperature up to 1 week.