All expansions below are binary, not decimal.
You're treating $x$ as both a sequence and a real at the same time; as a result, the definition of $x$ you've written is indeed circular. Put another way:
It doesn't make sense to check "Is $x<{\pi\over 10}$?" without having fully defined $x$ first, so you can't refer to $x$ while defining $x$.
This doesn't mean that your idea is meaningless, just that you haven't written what you intend. So before I can answer your question, I need to clear up your definition of $x$.
What you're really trying to do is define a sequence of approximations to the real $x$ you want to build. Informally, to get from $x_n$ to $x_{n+1}$ we "tack on" the biggest binary digit to the end of $x_n$ which keeps us below ${\pi\over 10}$. Formally, we define $x_n$ recursively (or inductively) as follows:
For example:
$x_0+{2^{-1}}={1\over 2}>{\pi\over 10},$ so $x_1=0.0$ (which is of course a silly way to write $0$, but it's clearer in this context I think).
$x_1+2^{-2}={1\over 4}<{\pi\over 10}$, so $x_2=0.01$.
$x_2+2^{-3}={3\over 8}>{\pi\over 10}$, so $x_3=0.010$.
And so forth. We then define $x$ to be the limit of the $x_i$s: $$x=\lim_{n\rightarrow\infty}x_n.$$
Now in everything we write from now on, we need to be careful to distinguish between the specific (and now well-defined!) real number $x$ and the sequence $(x_n)_{n\in\mathbb{N}}$ of real numbers we've built (and which we've used to define $x$). For example, when you write $$\lim x,$$ what you really want to write is $$\lim_{n\rightarrow\infty} x_n,$$ since you take the limit of a sequence rather than a single number.
Having repaired the language, we can now answer your question:
$x={\pi\over 10}$, even though for each $n$ we have $x_n<{\pi\over 10}$.