Volcanic Torrent

Cascade triggers when you cast the spell, meaning that it resolves before that spell. If you end up casting the exiled card, it will go on the stack above the spell with cascade.

If you cast a card "without paying its mana cost," you can't choose to cast it for any alternative costs. You can, however, pay additional costs. If the card has any mandatory additional costs, you must pay those to cast the card.

If the card has {X} in its mana cost, you must choose 0 as the value of X when casting it without paying its mana cost.

Due to a 2021 rules change to cascade, not only do you stop exiling cards if you exile a nonland card with lesser mana value than the spell with cascade, but the resulting spell you cast must also have lesser mana value. Previously, in cases where a card's mana value differed from the resulting spell, such as with some modal double-faced cards or cards with an Adventure, you could cast a spell with a higher mana value than the exiled card.

A spell's mana value is determined only by its mana cost. Ignore any alternative costs, additional costs, cost increases, or cost reductions.

The value of X is calculated as Volcanic Torrent resolves. It will include Volcanic Torrent, spells you cast in response to Volcanic Torrent, and spells you cast prior to casting Volcanic Torrent, even if those spells haven't resolved yet. For example, say the first spell you cast in a turn has cascade and that cascade ability causes you to cast Volcanic Torrent. Then Volcanic Torrent's cascade ability causes you to cast another spell. When Volcanic Torrent resolves, X will be 3.

If you copy a spell, Volcanic Torrent won't count the copy. However, if an effect instructs you to copy a card and then cast the copy, it will be counted by Volcanic Torrent.