It's tempting to think of spacetime as a thing, and it doesn't help that it's often represented as a rubber sheet in popular science programmes. In relativity (special and general) spacetime is a mathematical concept - it is a manifold equipped with a metric. At the risk of over-simplifying, a manifold is a thing that has dimensionality (four dimensions for spacetime) and a metric is a function that defines distances between points in the spacetime.
When we talk about spacetime expand this is a somewhat careless shorthand for what is actually going on. What we actually mean is that the metric is a function of time. because it's the metric that determines the distances between points in spacetime, this means that the distances between points in spacetime is also a function of time. In the particular case of the our universe the metric that (approximately) describes our spacetime is the FLRW metric, and the distance between any two spacetime points is proportional to a function called the scale factor. My answer to Did the Big Bang happen at a point? explains how we calculate the scale factor and includes this graph of its variation with time:

It's immediately obvious that the scale factor increases with time, and that's why we (somewhat carelessly) say the universe is expanding.
Assuming you've stuck it this far I can now answer your question, because there is in principle no limit to how fast the scale factor can increase with time. You've no doubt read startling statics like during inflation the universe expanded by a factor of $10^{26}$ in less than $10^{-32}$ seconds, but the expansion rate could have been arbitrarily large. It just depends on the value of the inflaton field. Of course, excessively large values of the inflation field may not produce a universe that looks like ours, so there are limits placed by observation. However there is no fundamental restriction imposed by general relativity to how fast the scale factor could have increased.
A few quick footnotes:
In a comment you ask whether space doesn't move when a gravitational wave passes through it. Again the temptation is to think of a gravitational wave as a ripple on water or a vibration in a rubber sheet. A gravitational wave is actually a time dependant change in the metric. If we are measuring distances, using the metric, then when a gravity wave passes by we will see the measured distances changing with time because the metric changes with time. If we're being lazy we'd say the spacetime is oscillating, but really what we mean is that the metric is oscillating.