Is it possible to have increased libido while depressed (and not on meds)?

Yes: Sexuality and sex drive can be many things to people. For some it is a solace---a way to manage stress or depression. If the that is true, i think that some people may consciously or unconsciously have an increased sexual drive when depressed.

Yes it is: You can have predominant depression with any manic symptom. It is also possible that just as appetite and sleep can increase or decrease in depression, that an occasional individual may have increased instead of. Decreased libido. This makes it all the more important for your psychiatrist to differentiate in your case between bipolar and unipolar disorder by taking a comprehensive history.