In a 3- or 4-quart saucepan, stir the water, orange juice, and sugar together until the sugar is thoroughly dissolved.
Add the cranberries, bring to a boil and cook for 3 to 5 minutes, stirring occasionally, until the skins of the berries begin to pop and the berries are tender but not mushy. Do not overcook them.
Remove the pan from the heat and stir in the orange rind. Transfer the mixture to a serving bowl, let cool, and then chill for at least an hour or two before serving.