Preheat the oven to 350 F. In a large bowl, combine butter with powdered sugar until fluffy. Add in vanilla extract, and mix until smooth.
Add in flour and cherry juice, and mix until combined. Fold in the dried cherries and white chocolate chips.
Roll the cookie dough into balls, and place onto a large ungreased baking sheet. Bake for 10-12 minutes. Place the remaining powdered sugar into a shallow dish. Roll the baked cookies into the powdered sugar.