Yes, RACED is a Scrabble word!

Letter values in Scrabble US: R 1, A 1, C 3, E 1, D 2.

Is it a valid word?

RACED is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

move fast
compete in a race
to work as fast as possible towards a goal, sometimes in competition with others
cause to move fast or to rush or race

Also: pelt along, rush along, cannonball along, bucket along, belt along, step on it.