According to a post on the Rift Facebook page, Beta 5 has been extended through Saturday, January 29th at 10:00 a.m. PST. Devs indicate that it's because everyone's having so much fun.
We are having so much fun with you in Telara that we have extended the Beta 5 event through Saturday morning at 10 a.m. PST! ^Zann
Read more here.