Speeding up the transaction is an attempt to override the current pending transaction with a new transaction. ‘Gas’ is paid to the network in order for transactions to be processed. If you attempt to pay with a lower gas price, it would take a longer time to process as the network would pick up transactions with higher fees first. Speeding up accelerates the current transaction by replacing it with a new one, essentially cancelling and dropping the old transaction all together.
Step 1: Click on MetaMask and go to ‘Activity’.
Step 2: Click on 'Speed Up' as shown in the picture below. This will allow you to re-submit the same transaction with a higher gas fee allowing the transaction to be processed faster.
*** **Credit to Sushi Samurai *****